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Microcap & Penny Stocks : PanAmerican BanCorp (PABN)
PABN 0.000010000.0%Mar 7 3:00 PM EST
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To: myturn who wrote (12062)8/16/1998 11:53:00 PM
From: Tom Murphy  Read Replies (2) of 43774
 
Reason 3227....I will take your word for it because I don't know...But if as you say Insider Trading is the "Clearing House"...the 75/25 % split you mentioned is probably the other way around...with the Brokerage firm retaining the biggest chunk of the pie. Most Clearing Houses are contracted by more than one brokerage house..hence they make their money through the volume of trades they reconcile. A Clearing House makes it possible for brokerage firms to process the trades that occur daily. Participating firms submit the details of their trades to the clearing corporation. The data is then processed through the clearing corporations computer system into a series of reports which are used by the brokerage firms to reconcile their transactions. The clearing house also provides other services for the brokerage firms, such as audits of transactions for SEC compliance, sending out Annual reports to stockholders, etc.
Are you sure about the Clearing House statement. At this point with only 40 clients (number someone else posted today), Insider Trading could be completing "comparison and reconcilment" by using firm to firm or broker to broker, instead of a contract sheet through a clearing house....It is not efficient, but can be done.
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