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Technology Stocks : ATPX: Lunn Industries and Technical Products Group merge. -- Ignore unavailable to you. Want to Upgrade?

To: RogerWillco who wrote (581)11/4/1997 1:11:00 PM
From: Wesson72  Read Replies (1) | Respond to of 1923
 
So if you execute a trade, sell 100 shares of ATPX that you bought yesterday for $1.50 at market for $15.00 who eats the mistake? The broker? The clearing house? Or will the account be adjusted, forcing the wily investor to cover for the ineptitude of the broker/clearing house?

Greg



To: RogerWillco who wrote (581)11/4/1997 6:38:00 PM
From: Lee Bush  Read Replies (1) | Respond to of 1923
 
Roger:
That mysterious company to which you refer is the Depository Trust Corp, or also known as Cede & Co., or the Federal Reserve. Not well known, but all shares held in street name must be issued by the company (LUNN) to Cede & Co. as a single certificate, then redistributed to the clearinghouses by Big Uncle DTC.
Interesting isn't it.
Lee


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