The DTCC does share exchanges all the time - even when they dont have enough shares (in cert form) to cover the street name shares - - - that is one of their fraudulent specialties - they just electronically exchange the shares and keep it as a fail-to-deliver borrowed share. the problem HERE is more that the NAKED SHORT is so enormous, and that the buy-in/buy-back will be painfully expensive, brutally expensive to its member broker/dealers.
if anyone at all thinks that the stupid DTCC does share exchanges all the time ONLY when they have in their inventory a 1:1 ratio for every share held in customers' street name accounts, they are living in a false world.
The DTCC processes BILLIONS of dollars of fail-to-delivers every business day - this is COMMONPLACE to them.
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