Replies to post #138054 on MyECheck, Inc. (fka MYEC)

[Zeroze2002]

Time will tell but I think some people are loyal to their brokerage, others saw the issue as a negative on the company and in penny land a guarantee from the CEO that something will happen is never a certainty.

[Jj7338]

I think there are a lot of people who are waiting for dtc eligibility and haven't switched for many reasons.

I want to buy more and haven't switched for my own reasons. DTC membership will only show legitimacy and lower initial risk in some eyes.

[MODiFiEDZ]

Only the ones like us who see MYEC's extravagant potential would open another brokerage to just buy one stock.
The guys really missing out are the ones with an IRA, very few with $500K+ in their IRA will transfer everything over to eTrade or Fidelity to just buy MYEC.
Which brokerage someone decides to use should never be the limiting factor on them being able to purchase MYEC or any other stock, purchasing a stock should be easy & being DTC Eligible does such.

[Kubisiak5]

Yea I was curious myself about how much pentup demand there will be. Perhaps by sheer number of traders that get access we may see tangible volume increases. But to quote Ed, the "dogs that can hunt" likely already opened up Etrade and have had their fill.

Again, if the whole "95 percent of brokers dont trade MYEC but will" is anywhere near accurate then we should see some noticeable volume.

MYEC

[byrdiesoccer]

You would be surprised for some of the reasons why people do not open other broker accounts...

Here is one reason

Many employees of brokerage firms are only allowed to have brokerage accounts in the respective companies they work for. I.E., all employees of Fidelity must have all investment assets in a fidelity account (there are very few exceptions that allow an employee to have assets somewhere else). Here is Fidelity code of ethics for employees:

Rules for All Employees Subject to This Code of Ethics
What’s Required
Acknowledging that you understand the rules
Complying with federal securities laws
Reporting violations to the Ethics Office
Disclosing securities accounts and holdings in covered securities
MOVING COVERED ACCOUNTS TO FIDELITY
MOVING HOLDINGS IN FIDELITY FUNDS TO FIDELITY
Disclosing transactions of covered securities
Disclosing gifts and transfers of ownership of covered securities
Getting approval before engaging in private securities transactions
Getting prior approval to serve as a director
Clearing trades in advance (pre-clearance)


Source-http://www.sec.gov/Archives/edgar/containers/fix014/710826/000119312510101655/dex99pc.htm

IMO I would not be surprised if employees of DTC participant brokerage firms had similar codes of ethics...