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To: rootman who wrote (12603)12/11/1998 10:30:00 AM
From: JOE MEDSKER  Read Replies (1) | Respond to of 19331
 
R,
I will get the details of what it is and how it will be handled and post it.

Best Regards



To: rootman who wrote (12603)12/11/1998 11:51:00 AM
From: Colin Cody  Respond to of 19331
 
Rootman, A "buy in", in reference to what is being alluded to recently on this BB, is when a brokerage (clearing house) holding an open (unfulfilled) sale-to-receive is really, really in need of receiving those shares NOW (perhaps because the certificates are being called for delivery by their retail customers)

They submit a request to buy-in to the NSCC and the NSCC then presents the buy-in order to the firm holding the offsetting sale-to-deliver demanding immediate delivery, or in effect, to buy in the amount of shares required.

Colin