Alps was never short GTII... all shares are cleared and kept at DTC.. They are not permitted to short nor do they have a bank for providing margin or stock loan. As i have said 10 x...The GTII sales (long at DTC) were done by Alps but an Ops person didn't upload trades until next am. Its a big point of contention that DTC is calling this a short when in fact they (DTC) are holding the shares in their account. However, it did trigger a VAR call. Each clearing firm has a daily cap on total number of $$ they can trade based on ENC AND the volatility of the stock (price,amount of shares,30 day AV). Each fime also has a 'Super cap" on the size of a particular trade they can make ( Im not going to explain this to you as its like explaining calculus to a 1st grader) .Alps fought the $2.3 million call because in their minds the stock was long at DTC (and it was) . It was moot anyway, because the trade settled the next day and Alps was forced to put up the $$ or be closed from trading but they appealed trying to get volatility charges removed... this became a MOOT point as i pointed out over and over and in the Judges opinion BECAUSE the rules of DTC changed and 1) Alps put up the $2.3 million 2) the trade was settled 3) DTC returned the call $$ back to Alps 60 days later and 3) the new ENC rule would require $10 million ENC by Aug/Oct 2023.... You are truly clueless ...Also, read Alps execution reports...you can review them and any firms report's.. Alps trades with 2, sometimes 3 well known market makers. There is no wash accounts. Why? they are not allowed to do DVP/RVP trades per Lakeside bank. their clearing bank. seriously dude, you are so clueless. But fan the flames if it makes you dream. If you were actually as bright as you think you should be picking my brain apart for more info instead of insulting me... Last class though. You are dismissed. You had your chance but blew it
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