Replies to post #44988 on ZNext Mining Corporation, Inc (ZNXT)

[janice shell]

DTCC has nothing whatsoever to do with short covering. Go read some of their public announcements.

[Jim Bishop]

I'll second that, DTCC has absolutely nothing to do with extensions, which can only pertain to fails to deliver, not to cover legit shorts, or anything else regarding shorts.

You should learn who DTCC is and what they do.

http://www.dtcc.com/news/newsletters/dtcc/2007/jul/trade_failure.php

"DTCC and its subsidiaries play a critical role in the clearance and settlement of virtually all equity and fixed income trades in the U.S. While their systems will identify many failed trades, DTCC's clearing subsidiary does not have access to the underlying reasons for the fail, which is only known to the firm involved.

The SEC has pointed out that most fails are usually temporary in nature, due to administrative error by the end investor or the broker/dealer, though fails can also be caused by abusive trading activity. For that reason, the SEC and marketplaces monitor and investigate fails data to help uncover such activity.

"Our position is that disclosing aggregated historical data in each security on a regular basis, especially now that the grandfathering of fails is ending, would demonstrate convincingly the relatively low level of failed trades that actually exist, and that such information would end much of the speculation about the level of fails in our system," said Larry Thompson, DTCC's general counsel."