Replies to post #32405 on BigHub.com Inc (fka BHUB)

[clarity789]

First, the MM representing your broker would present the shares to trade - not you.

MURF would then match the share trade to another MM who doesn't care if the DTC will settle them.

Lets say I'm NITE, and I need to cover 60 million illegal shares. And you trade thru ETrade (1.2 million shares), so your MM is ETRD

NITE would notify MURF that they need 60 million illegal shares (wierd, eh?) and MURF would then act as intermediary between NITE and ETRD.... and at the end of the day, NITE must pay ETRD for your 1.5 million shares.

MURF is the traffic cop, and he gets a trade fee for both transactions. And the DTC is not involved in the exchange of shares/funds.

You get your money, the shares disappear.