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patchman

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patchman

Re: dr33m post# 330248

Wednesday, 09/15/2010 1:24:54 PM

Wednesday, September 15, 2010 1:24:54 PM

Post# of 346919
Too bad it doesn't work that way.

ZECCO has to go to the DTCC and request a split of of the stock held in street name under their account. The DTCC then sends the TA the shares held in Cede and Co. and provides direction on how to split it up.

A broker can't go directly to the TA and request a cert because a TA can only break up and re-issue from certs already issued. As for this TA, there is a TRO by the courts prohibiting the issuance of shares.
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