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The DTCC's clarification and comment about supposed shorting of stocks. Do third parties misrepresent the data ?
DTCC Clarification on Fails to Deliver
June 28, 2006 02:47 PM US Eastern Timezone
DTCC Clarification on Fails to Deliver
NEW YORK--(BUSINESS WIRE)--June 28, 2006--The Depository Trust & Clearing Corporation (DTCC) today issued a clarification of a statistic it reports each year in its annual report. The clarification is intended to provide a more accurate description of a statistic on failed transactions - including "Fails To Deliver" (FTD) - that certain third parties have persistently misinterpreted or misrepresented, seeking to buttress their contention that the levels of FTDs is evidence of abusive short selling and "naked short selling." These parties cite DTCC's reported statistic as the amount of FTDs each day. Their characterizations are grossly inaccurate and paint a distorted picture of the reality of the marketplace.
" DTCC Clarification on Fails to Deliver
June 28, 2006 02:47 PM US Eastern Timezone
DTCC Clarification on Fails to Deliver
NEW YORK--(BUSINESS WIRE)--June 28, 2006--The Depository Trust & Clearing Corporation (DTCC) today issued a clarification of a statistic it reports each year in its annual report. The clarification is intended to provide a more accurate description of a statistic on failed transactions - including "Fails To Deliver" (FTD) - that certain third parties have persistently misinterpreted or misrepresented, seeking to buttress their contention that the levels of FTDs is evidence of abusive short selling and "naked short selling." These parties cite DTCC's reported statistic as the amount of FTDs each day. Their characterizations are grossly inaccurate and paint a distorted picture of the reality of the marketplace.
National Securities Clearing Corporation (NSCC), a subsidiary of DTCC, acts as a central counterparty to virtually all broker-to-broker trades in the U.S. As such, the numbers NSCC reports relating to "failed transactions" reflect both buy and sell sides of a trade. These numbers include both fails to deliver and their offsetting fails to receive, so that the number thus doubles the amount involved (i.e., the same transaction is counted twice, once on the "deliver" side and once on the "receive" side).
In DTCC's most recent annual report indicated that as of December 31, 2005, NSCC had fails outstanding worth approximately $6 billion. This value is persistently described by third parties as the value of FTDs as of that date. Since it is actually the value of all fails - i.e., both fails to deliver and fails to receive - effectively, the $6 billion cited by third parties actually represents $3 billion in fails to deliver, or about 1.1% of the $266.5 billion in trades processed on the average day by NSCC in 2005. Moreover, the $3 billion figure also represents all fails to deliver at NSCC, including fails in fixed income trades (corporate and municipal bonds). While the number of fails and percentage of fails in fixed income trades changes each trading day, on December 31, 2005, fixed income trade fails were equal to approximately 15% of all fails. Importantly, DTCC notes that this FTD total reported is not just for equities on the "threshold list" of companies, but rather reflects fails on all equities and corporate and municipal bonds.
For over one year, DTCC's Web site has reported that the $6 billion as "fails to deliver and receive" thus enabling people interested in the topic to understand that the figure reflects both halves of a transaction. (See http://www.dtcc.com/Publications/dtcc/mar05/naked_short_selling.html.) Nonetheless, third parties persist in applying the number to fails to deliver only. The DTCC Web site has also made clear that the figure is not a daily amount of fails, but a combined figure that includes both new fails on the reporting day as well as aged fails.
While DTCC does not know the reasons for a fail to deliver (this is only known by the broker-dealer and the marketplace), as the SEC has pointed out, "There are many reasons why NSCC members do not or cannot deliver securities to NSCC on the settlement date. Many times the member will experience a problem that is either unanticipated or is out of its control, such as (1) delays in customer delivery of shares to the broker-dealer; (2) an inability to borrow shares in time for settlement; (3) delays in obtaining transfer of title; (4) an inability to obtain transfer of title; and (5) deliberate failure to produce stock at settlement which may result in a broker-dealer not receiving shares it had purchased to fulfill its deliver obligations."
With information on the actual FTD situation readily available, DTCC believes the failure to use the proper number in any meaningful discussions of naked short selling reflects a conscious attempt to mislead the investing public and undermine the confidence in the workings of our capital markets.
http://home.businesswire.com/portal/site/google/index.jsp?ndmViewId=news_view&newsId=20060628005....
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gorbec1
Seems like you're always changing your tune when documented information is produced.
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gorbec1
" and the short is now 3.6 bil but as usuall great dd of yours "
It would seem that the authorities and especially the DTCC don't believe the wild claims of naked shorts. don't be too surprised if the authorities don't begin to investigate groups who promote the naked short scenario.
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" DTCC Clarification on Fails to Deliver
June 28, 2006 02:47 PM US Eastern Timezone
DTCC Clarification on Fails to Deliver
NEW YORK--(BUSINESS WIRE)--June 28, 2006--The Depository Trust & Clearing Corporation (DTCC) today issued a clarification of a statistic it reports each year in its annual report. The clarification is intended to provide a more accurate description of a statistic on failed transactions - including "Fails To Deliver" (FTD) - that certain third parties have persistently misinterpreted or misrepresented, seeking to buttress their contention that the levels of FTDs is evidence of abusive short selling and "naked short selling." These parties cite DTCC's reported statistic as the amount of FTDs each day. Their characterizations are grossly inaccurate and paint a distorted picture of the reality of the marketplace.
" DTCC Clarification on Fails to Deliver
June 28, 2006 02:47 PM US Eastern Timezone
DTCC Clarification on Fails to Deliver
NEW YORK--(BUSINESS WIRE)--June 28, 2006--The Depository Trust & Clearing Corporation (DTCC) today issued a clarification of a statistic it reports each year in its annual report. The clarification is intended to provide a more accurate description of a statistic on failed transactions - including "Fails To Deliver" (FTD) - that certain third parties have persistently misinterpreted or misrepresented, seeking to buttress their contention that the levels of FTDs is evidence of abusive short selling and "naked short selling." These parties cite DTCC's reported statistic as the amount of FTDs each day. Their characterizations are grossly inaccurate and paint a distorted picture of the reality of the marketplace.
National Securities Clearing Corporation (NSCC), a subsidiary of DTCC, acts as a central counterparty to virtually all broker-to-broker trades in the U.S. As such, the numbers NSCC reports relating to "failed transactions" reflect both buy and sell sides of a trade. These numbers include both fails to deliver and their offsetting fails to receive, so that the number thus doubles the amount involved (i.e., the same transaction is counted twice, once on the "deliver" side and once on the "receive" side).
In DTCC's most recent annual report indicated that as of December 31, 2005, NSCC had fails outstanding worth approximately $6 billion. This value is persistently described by third parties as the value of FTDs as of that date. Since it is actually the value of all fails - i.e., both fails to deliver and fails to receive - effectively, the $6 billion cited by third parties actually represents $3 billion in fails to deliver, or about 1.1% of the $266.5 billion in trades processed on the average day by NSCC in 2005. Moreover, the $3 billion figure also represents all fails to deliver at NSCC, including fails in fixed income trades (corporate and municipal bonds). While the number of fails and percentage of fails in fixed income trades changes each trading day, on December 31, 2005, fixed income trade fails were equal to approximately 15% of all fails. Importantly, DTCC notes that this FTD total reported is not just for equities on the "threshold list" of companies, but rather reflects fails on all equities and corporate and municipal bonds.
For over one year, DTCC's Web site has reported that the $6 billion as "fails to deliver and receive" thus enabling people interested in the topic to understand that the figure reflects both halves of a transaction. (See http://www.dtcc.com/Publications/dtcc/mar05/naked_short_selling.html.) Nonetheless, third parties persist in applying the number to fails to deliver only. The DTCC Web site has also made clear that the figure is not a daily amount of fails, but a combined figure that includes both new fails on the reporting day as well as aged fails.
While DTCC does not know the reasons for a fail to deliver (this is only known by the broker-dealer and the marketplace), as the SEC has pointed out, "There are many reasons why NSCC members do not or cannot deliver securities to NSCC on the settlement date. Many times the member will experience a problem that is either unanticipated or is out of its control, such as (1) delays in customer delivery of shares to the broker-dealer; (2) an inability to borrow shares in time for settlement; (3) delays in obtaining transfer of title; (4) an inability to obtain transfer of title; and (5) deliberate failure to produce stock at settlement which may result in a broker-dealer not receiving shares it had purchased to fulfill its deliver obligations."
With information on the actual FTD situation readily available, DTCC believes the failure to use the proper number in any meaningful discussions of naked short selling reflects a conscious attempt to mislead the investing public and undermine the confidence in the workings of our capital markets.
http://home.businesswire.com/portal/site/google/index.jsp?ndmViewId=news_view&newsId=20060628005....
tavycal
When I bought that list of stocks they were all CDN 15M $.25 1% Ins . Most likely best to wait for tax loss selling season to buy .
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grtcli
" Trade: Name one stock that is not some sort of gamble and I'm in. "
Canadian shell companies that have just gone through a share consolidation and fallen in price to levels that insiders are taking down private placements . A CDN shell with less than 10 million shares outstanding and over 20 % insider ownership is like money in the bank. All you have to do is wait for the insiders to decide to run the stock. You just go a long for the ride.
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grtcli
" Bought CMKX before QBID. I have 1000 in QBID that I will write off. Do you trade? If so, do they all go up..come on now tell the truth. If so...you should be Buffett. "
Yes I trade , actually that's all I do. Most of my trading is on the Canadian side , except for the lottery tickets with the US pennies. Do I make money ? I'm still here since 1996 while most others are long gone. My secret to success , never put all my eggs in the same basket.
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grtcli
Do you get mixed up a lot ? Seems that you didn't know what poster you are posting to.
So what you're really telling me is that you're just blowing smoke out your bottom. You've just thrown money into CMKX on the off chance that it could help recover some of your loss due to QBID.
" I communicate my findings to those with a need to know. You are not one of them...by the way...can you define "shite" Mr. Spelling Bee?
Posted by: tortradr
In reply to: jimmym4 who wrote
Date: 6/28/2006 11:36:29 AM
Post # of 212898
Who says they won't reg & deliver Jimmy?
Damn, you're thicker than shite in a bottleneck kid. "
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grtcli
So you're in CMKX on a gamble ? You don't have any hard evidence , just going on a hunch. Since you say that you're retired , why don't you use your investigative abilities to solve the mystery of CMKX . Seek out the truth , is CMKX a scam or not ? Help your fellow shareholders by answering the question on every shareholders mind.
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grtcli
So what clues did your great investigative skills turn up about CMKX to convince you to buy CMKX while it was on it's death bed ? The best way to silence bashers is provide evidence that CMKX is not a scam and does have a future. So why don't you show them what you have found to silence them once and for all.
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grtcli
Too funny , you should improve your investigative skills. You certainly aren't Sherlock Holmes if you would buy CMKX at the end of it's life.
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grtcli
" Frank, where's my money? "
That quote says it all. You go from scam to scam losing every time.
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grtcli
" Why would I ever want to sue my own company? Maybe your mother will make you a cup of soup for lunch. You still live with her right? "
I bet the CMKX touts love your kind. You also joined the Frizzy cause didn't you ?
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grtcli
If you haven't lost all your money already , maybe you should join the Vancouver based CMKX lawsuit. I know it's a thousand dollars , but maybe your mother could lend you the money.
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midas98
As I said , keep believing that if it makes you feel better. It's my opinion that you should consider treatment.
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grtcli
You keep that thought if it makes you happy . I'm happy with my profit from selling 95 % of my CMKX at $ .001 on the first run. But I'm also very happy to see the organized pump gang finally get there's after fleecing so many sheep over the last few years.
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grtcli
Here's a question for you . What bus company in Alberta could hold a lot of the answers to this scam ? Who influenced so many people at that firm to buy CMKI stock at prices close to $.01 ? How many of those people still hold unregistered stock ?
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grtcli
It's going to be interesting when the rats start jumping from the sinking ship. How many names will be given up ? How many of your tout buddies will be exposed to the public eye and the angry villagers ?
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grtcli
" Why don't you tell me why an Etrade represntative flew in personally to deliver a box of certificates. Oh...normal course of business I suppose, BBBWWWWAAAHHHAAAAA! "
Probably because they wanted to finally be rid of the nutbars who had been constantly accusing them of every conspiracy through history.
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grtcli
It will certainly be interesting when the Vancouver based CMKX shareholders lawsuit goes after Surfit. I wonder how many names he will give up ? Judging from his past character , one could assume that he would even turn on his own mother. I believe it's your buddies who will be dragged before the courts.
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grtcli
I'm here because I want to see your tout buddies get dragged through the courts. Soon the shareholders will turn on the touts and names will begin to fly.
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grtcli
Now don't be shy , you're among friends. Well maybe not friends , but at least we're not the villagers with pitch forks and torches.
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grtcli
Now who do you remind me of ? I'm sure you've been here before under another fine username.
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jimmym4
It seems to me that Frizzy is lost in space. Let's just hope that the robot can find him and bring him back to earth. It's amazing that he actually still considers Casavant and crew a reliable source of information. You would think by now that he would confront Casavant and squeeze some honest answers from him .
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janice
It's day will come , but not quite yet. When I first showed the site to the family , the kids wanted one and my wife was up in arms . I'm surprised that someone in her field hadn't mentioned it to her before.
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janice
I'm surprised that we hadn't heard of the little display here in Toronto.
http://www.museumofhoaxes.com/hoax/weblog/comments/4198/
Genpets (shrinkwrapped pets)
Status: Hoax (art project)
Meet Genpets, the cute, cuddly (kind of ugly) pets of the future, that come shrinkwrapped in plastic:
Genpets are living, breathing mammals. Bio-Genica is a Bioengineering Company that has combined, and modified existing DNA to create the Genpets lineup. Genpets are flesh and blood just like any other animal... Genpets are designed to be sold on retail store shelves, not traditional pet stores. This is why they are packaged in plastic.
It should be pretty obvious that Genpets aren't real, though the Genpets site is well designed. The Genpets site is the creation of artist Adam Brandejs. Apparently he's actually been hanging these things in store windows. And the real-life versions of them look like they're alive, thanks to some robotics and circuitry. He writes:
Genpets seems to create a reaction wherever they go. While in the store window of Iodine Toronto, the shop owner began sleeping in the store as many nights, people would bang at the windows furiously. Some in protest of the small Bio-genetically engineered creatures trapped in plastic, some wanting to wake them up or buy them. Hordes of teens wanting a bioengineered pet met confused, baffled, or even shocked looks from parents. For an upcoming generation, through our own marketing techniques, life and the idea of life are quickly becoming viewed as disposable commodities. It’s easier to dismiss Genpets as a hoax or exaggeration when you’re not faced with a wall of them. The experience of a grainy photo is different than standing face to face with a breathing, sleeping Genpet.
(Thanks to Torbjørn Solstad for the link)
Posted: Wed Jun 14, 2006 | Total Comments: 16
Category: Animals, Hoax Websites, Technology
accadacca
" I Will Speak In The International Room @ 10 Est,
If Anyone Is Interested! "
What room at the library do we need to go to ?
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jimmym4
" Rumor has it td waterhouse in canada is still wayyyyyyyyyyyyyyyy short.. "
Funny I never had a problem getting a cert recently for a few left over CMKX shares from TD Waterhouse here in Canada. The Canadian brokerages don't take kindly to being slandered in such ways. The dolts should be cautious about the rumors that they make up.
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Mugsy5
That's why I make money with them , I know what they are. Do you know how many times in the past I've heard that same speech. I always keep 5 % of any stock I play ,just in case that's the one that becomes the gem. Not once on the Pinkies have I ever been rewarded.
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Mugsy5
Actually I don't hate any stock , I just dislike peoples methods at times. I also know how these penny stocks operate and how to make money from them.
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illuminati2012
Funny how you just turned up.
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gorbec1
Well I hate to tell you this , but your dreams may just turn into a nightmare before SMMW goes to another exchange. Well my dream, is that we get lucky and SMMW has one price rise before going to another exchange.
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gorbec1
Well here something for you to think about. Do you really think Dan will take SMMW to another exchange without doing some form of restructure ?
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gorbec1
It's funny how you never answer a question. Just like when I put you on the spot about what shares were being retired. The problem with this stock is that Dan cried wolf to often and now it's hard to get an audience.
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gorbec1
And how is it better ? Seems that we still have the $.0001 ask no matter how many billions have been traded recently. Nothing has changed in the last two years and people know it. Until Dan gets a bid of $ .0002 no one will take this stock serious.
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gmann11103
Seems someone is a little emotional today. You and jimmy should get together and console each other for the loss of your idol Maheu. While your at it, learn deep breathing. That way you will be able to survive the upcoming shareholder lawsuits without blowing an gasket.
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pennypauly
Talk about grasping at straws , that poster takes the prize. Don't you ever feel embarrassed bringing this crap to this forum ? I wonder if you would post such trash if you had to post under your real name ?
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janice
It will be comical in the future if it's found that there were only a couple of little worms doing all the posting on Raging Bull. Surfit and the rest of the clowns are running out of time , their day to be exposed is drawing near.
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accadacca
Is this what they call desperation ? It would seem that you touts are losing your grip on the shareholders. Soon they will be turning on your kind and providing the information needed for the future lawsuits.
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janice
I may have to ask Jim to check something out for me.
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Pedro2004
Do you have documents that show the actual payment structure that CMKX made to the so-called Casavant Land Consortium for the Sask. claims ?
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