especially interesting ...these 3 paragraphs-DTCC has been asked how many FTDs are occurring, but refuses to disclose FTD data, either for particular companies or for the general market, citing concerns for possible trading volatility.
Despite its professed fears of trading volatility if FTD data is known by the public, DTCC says FTDs are minor matters. But DTCC frequently uses discretion to transfer pending FTDs to private brokerages involved for resolution "ex-clearing" among them. The number of FTDs in ex-clearing is unknown to the public.
Issuers of shares affected by FTDs have complained to DTCC regarding its failure to enforce the "buy in" rule to cover FTDs ten days after the trade. DTCC states it has no authority to "buy in" brokers or their delinquent clients.
"i'm just a happyidiot,struggling for that legal tender" jackson brown>