RCC Holdings Corp fka RCCH

[frogdreaming]

Do you understand what the DTCC is?

Why do you post that RCCH DTCC SETTLED shares have to CLEAR THROUGH the DTCC AGAIN when the account is moved from one brokerage to another. It is not a purchase (buy/sell) transaction it is a settled account movement (rollover).

Short of having a printed stock certificate for every share in circulation and transfering those shares from account to account as they are traded, there needs to be an 'official' clearing house that tracks and regulates those transactions. Such a prehistoric process would cripple todays online and worldwide market process. The DTCC clearing process eliminates that roadblock.

Just like you can't email a transfer from your piggybank to someone else's without doing an authorized money transfer through a financial institution, although you can certainly carry the dollar bills by hand to that individual. You are certainly free to go to the broker and obtain a certificate for your shares and carry them to your new broker. They are your shares you can do what you want with them. However if the broker is locked out of the transfer process for a particular stock then he has no real alternative but to convey his regrets to you and deny the transaction.