Wrong , wrong and wronger. SCA moved all it's accounts to Alpine (its sister company) so Alpine could change from a 'Correspondent Clearing firm" to a "self Clearing firm"...The difference is big as i tried forever to explain to you. Under new rules adopted last year, DYC now required $10 million in capital if you are clearing for other BDs. If you are just "Self Clearing" and not for others, the requirement is $5 million...do you understand? that is why the whole DTC illiquid charge became moot 1)money was returned and 2) ALPS had to raise its requirement to $5-$10 million anyway...SMH...As for BYRG... ALPS has long been trying to get rid of sub pennies UNLESS they are being actively SOLD. Holding them costs the clarting firm on a monthly basis from TC. Alps marks it up from there to cover their cost HENCE the problem, pikers don't want to pay these accumulating monthly dents BUT scream to regulators that "stock was sold without my permission" when they sell to clear the debit. Try reading some of the filings in complaints . in BYRG, if the entire position was sold it equals about 80k... take out commissions, MM, fees and its probably a net of $68k,,, THEN people client's want all that money sent but dont want to pay DTC custody fees of a couple thousand that have accumulated. I see both sides of it but if you don't want to sell, keep you subs at home. quite frankly keep all you otce at home if you are not selling or at TA. so go ahead, post some silly thing from the internet and I will keep explaining since i read
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