Replies to post #121281 on Bancorp International Group Inc (fka BCIT)

[f1fans]

Enlighten us on self clearing, I am open for any and all info to help us understand the inner workings of this DTCC log jam with BCIT.

[mastaflash]

Broker to broker trades. There is no record of these trades...except with the brokers involved. I would suspect most FTDs...if they were even recognized as such and tracked...which they are not...are created in this ex-clearing market. Now the brokers don't trust each other...ex-clearing makes no sense now in view of the fact there are no real shares to back up those trades....unless you somehow make it too expensive not to. IOUs trade just as thought they were real...just need to grease the wheels a bit...