Wednesday, August 01, 2012 7:01:48 PM
These actions, physical clearing, save the DTCC from the possibility of being stuck with bogus shares by, basically, using the principle 'better safe than sorry' protection against unregistered or counterfeit shares in the market
It appears brokerage firms who clear trades themselves,as TD does, are beginning to apply this philosophy themselves on a small group of certain stocks,expanding the list as time moves on, to stay ahead of what they might perceive as an inevitable crash. They're eliminating their risk exposure first, before it becomes an 'across the board' dilemma.
When all other brokerage firms begin to physically clear themselves charging higher clearing costs, watch for a collapse of a majority of non-reporting companies. Non-reporting companies will either be forced to begin reporting, or they'll fold for lack of funds required to become current.
This seems to be the general consensus
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