InvestorsHub Logo
Followers 103
Posts 9634
Boards Moderated 3
Alias Born 11/06/2009

Re: Cassandra post# 20420

Tuesday, 01/10/2012 11:41:18 PM

Tuesday, January 10, 2012 11:41:18 PM

Post# of 20469
And that is appreciated. Had made it something of a practice to check the DTCC site frequently but got lax lately.

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.



Quite possibly, in the prior one I had noticed that the DTC notice stated 'at the close of business' on that particular day, but then again that was also a T for T notice before the suspension kicked in later.

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



Again, quite likely I also recall the situation last August. As I mentioned, the last one still cleared and I expect this one will as well. Both of them were fairly low dollar amounts $150 and $100 respectively although ENTS is actually about a $2K loss with the R\S ... Have about had it with these scam stocks and I am glad to see the actions that are taking place, maybe there might be enough change down here to make a difference, give real start up companies a fighting chance.

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.



Yep, a lot of confusion out there on this still, for instance with Etrade as a self-clearing entity it appears the trouble is on the settlement side if I am understanding it correctly. Nevertheless the only resort may be to write these off ultimately as worthless securities.



Join the InvestorsHub Community

Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.