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THall

06/15/23 2:38 PM

#307451 RE: CD_98 #307450

So if they are hidden what exactly is there to cover? If DTCC is not aware of a FTD that they issued then there would be no cover. Your entire statement makes no sense. FTD's are issued from DTC. If they dont ask for them to be purchased then there are no shares to be covered.