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westeffer

09/23/11 2:21 PM

#6371 RE: wshaw14 #6370

No, it means that Penson the clearing house won't handle the trade, all the big boys like Ameritrade, Fidelity and Etrade do because they own their own clearing house.
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seekingalfalfa

09/23/11 2:24 PM

#6372 RE: wshaw14 #6370

from Choice Trade's website...
DTC Transfer
DTC is a method of transferring fully paid-for positions from your account at another broker to ChoiceTrade. DTC transfers cannot be used if you are competely liquidating and closing your other account and typically take 2-3 business days to complete. ChoiceTrade's incoming DTC number is 0234PFSI.