RCC Holdings Corp fka RCCH

[johnnyfiber]

It's not that simple. I don't see that mentioned in the RCC statment posted on their website. Although it is difficult to follow the wording...lol

JMO...without DTC privileges.... uhhh...not so good....


DTC Direct Link

DTC Direct Link allows members to move cross-border securities electronically or physically and eliminates the need for CDS customers to maintain a U.S. presence or a third-party arrangement.
The DTC Direct Link service processes Canada-U.S. trades on a trade-for-trade basis only. As Canadian financial institutions generally settle on a trade-for-trade basis, it is the most widely used Canada-U.S. link.

Using DTC Direct Link

Just as CDS is the central depository for Canadian securities, the Depository Trust Company (DTC) is the central depository for U.S. securities that offers custodial and settlement services to its members.

The arrangement requires CDS to sponsor participants for membership in DTC. Sponsored members have full DTC privileges and control over their settlement activities once they transfer their holdings to the DTC nominee name, CEDE & CO.

DTC Direct Link participants must contribute to an all-cash fund administered by DTC to protect customers from defaults on settlement obligations. The minimum initial contribution is $10,000 with additional payment based on participants’ trading activities.


http://www.cds.ca/cdsclearinghome.nsf/Pages/-EN-DTCDirectLink?Open