I am going to believe you thoroughly read over this latest press release along with the referenced DTCC instruct. Therefore, an individual of such astute boardsmanship as yourself would have to agree, this conjected reply of yours comes up shallow don’t ya think!
The press release states:
DTC participants need to acquire BCIT shares in order to settle aged fails in accordance with DTC instruction contained in DTC release B0846-11.
Age, stock specific, nor time frame in reference to DTC Importance Notice B0846-1, is the issue here. Under Proposed Solution read the 4th paragraph:
As to these designated CUSIPs, however, DTC will not lift the related deposit chill. If there are failed deliveries in these CUSIPs that are dependent upon physical securities held outside of DTC, settlement of those trades must be effected by physical delivery outside of DTC.
Here the DTCC clearly lays out to all of it’s participants the proper path in how to deal with their failed deliveries outside of DTCC involvement. From this point on, ignorance to this knowledge can no longer be defined as a misdemeanor!
Please - correct me if I am wrong.
