(Total Views: 417)
Posted On: 10/28/2018 6:37:43 PM
Post# of 72446
I posted a conversation of someone with the CUSIP Service Bureau. Here’s the link.
https://www.investorshangout.com/post/view?id=5145306
I just remember that you said shorts must cover after name/CUSIP # change in a PM. If you don’t remember, please PM me.
Quote:
If there is NO DILUTION, a covering of the naked shorted positions should take place due to what's revealed during the accountability process between the DTC after getting the "new inventory" of shares from the CUSIP Service Bureau if there is not only a CUSIP# change, but a name change too.
Because of the CUSIP # change, the MMs will be required to account for each of the old shares with the new shares. Because of the name change, it's important because it forces the DTC to play a more finite role by not only accounting for the old shares to equal the new shares electronically, but forces them to match a "new inventory" of shares that have been given to them from the CUSIP Service Bureau as the new official/approved inventory by way of the shares given from the company/TA.
https://www.investorshangout.com/post/view?id=5145306
I just remember that you said shorts must cover after name/CUSIP # change in a PM. If you don’t remember, please PM me.
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