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DTC-2021-005 - Modify the DTC Settlement Service Guide and the Form of DTC Pledgee’s Agreement

  • Last Updated:
  • Apr 2nd, 2021 12:58 pm
[OP]
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Apr 21, 2004
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DTC-2021-005 - Modify the DTC Settlement Service Guide and the Form of DTC Pledgee’s Agreement

https://www.dtcc.com/legal/sec-rule-filings.aspx - on the top of the list for now.


Interesting. I don't claim to understand everything I read but this is looking to be interest. Googling and putting reddit in my keyword searches suggest:

https://www.reddit.com/r/GME/comments/m ... pril_2021/
You can't borrow the same banana more than once.
You can't use collateral to do other bets ( rehypothecation )
You can't use banana contracts to close banana debts.


https://www.reddit.com/r/GME/comments/m ... s_are_not/
How DTC-2021-005 is a GAME CHANGER
Well, it's almost too real to be true, but on Thursday, after the market closed, DTCC submitted a rule filing to be reviewed by the SEC. Here is a high-level summary of the 3 main points first, but I will expand mostly on the last one.

Securities can't be "borrowed" more than once
Some securities won't be able to be used as collateral
Short/naked options selling or buying won't be possible: HF will need to have the shares when buying puts or selling calls.
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Dec 10, 2012
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Canada
we're getting closer to the inevitable. High risk = high rewards.

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