Replies to post #270 on Multi-Media Tutorial Services, Inc. (MMTS)

[learner1156]

Info from https://online.regalsecurities.com/Meridian/Notices_EO.html

Updated 11/29/2011: Additional Restrictions Associated with Illiquid Securities
Due to the increase in costs associated with clearing illiquid securities, beginning October 1, 2011, positions that are greater than 10% of the 20-day average daily volume within a security, regardless of the price of the security will result in charges from NSCC. Therefore, all orders in OTCBB and Pink Sheet securities where the order quantity is greater than 10% of the 20-day average daily volume of that security will be rejected. You will be notified with a message stating: “Rejected: Order violates PFSI illiquid security policy.” Further, if you execute transactions under the trading thresholds and accrue positions that exceed 10% of the 20-day average daily volume NSCC charges will also apply. For all transactions resulting in a NSCC illiquid charge, the following interest rates will be applied:
•0 to 3 million dollars: an annualized charge of 15% for the number of days on the NSCC report
•3 to 5 million dollars: an annualized charge of 20% for the number of days on the NSCC report
•5 million dollars and up: an annualized charge of 25% for the number of days on the NSCC report