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Re: Sharktnk post# 20419

Tuesday, 01/10/2012 10:58:50 PM

Tuesday, January 10, 2012 10:58:50 PM

Post# of 20469
You are fortunate that Renee is always so prompt in posting these DTCC notices. B/D clients of DTCC receive them and then have to issue the trading halt on their systems. It sounds like you got your trade in before they updated their system with the halt on all trading of ENTS.

Your trade may end up as a FTD, but that will be eTrade's problem. Last August, the DTCC freed trading for a couple of days so that B/D's could clean up aged fails from a list of stocks that had global locks:
http://www.dtcc.com/downloads/legal/imp_notices/2011/dtc/set/0846-11.pdf

Remaining ENTS shareholders whose brokers clear through the DTC are now stuckholders who can't even transfer their stock to another broker. Non DTC-cleared brokers are increasingly restricting or adding exhorbitant fees to trade these DTC-locked stocks.

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