Incorrect. Broker to Broker transactions are "ex-clearing" i.e. outside of the DTCC system. They also use a "netting" system, which just adds up the the long trades against the short as a total so you end up with a net # of long or short, & completely hides the actual FTD's in a given Co. It's called gaming the system. The DTCC's figures will tell you that at least 80% of stock trades are ex-clearing, in reality it is much higher of course, but no one knows what the actual ratio is because both the DTCC & the SEC don't consider it their business what happens between brokers, that is why we have the present situation & why SHO isn't worth a crap. Suggest you get up to speed by taking the following tutorial:
"I know nothing" -Manuel, "They who can give up essential liberty to purchase a little temporary safety,deserve neither liberty or safety" -Benjamin Franklin "The people are the only sure reliance for the preservation of our liberty" -T.Jefferson
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