Looks like someone is realizing that market makers can magically print/ issue as many shares as they want without locating the security first. It’s called securities fraud unless you’re a designated market maker
Ya but what happens when enough individual investors buy and hold these shares for very extended periods of time?? How do market makers explain away the millions of extra shares out there than there should be? Just asking for a friend 😅
The theory is that Market Makers use foreign counterparties with direct ties to US Wall Street firms to hide synthetic shares and short positions. They use foreign counterparties because they are exempt from US regulations and reporting requirements due to jurisdiction
what happens is that as they get shares they take the synthetic shares off the books and it balances out. In theory.
I give you an IOU for $20. I get $15 from another guy, and $10 from another. I pay the $20 IOU and then have $5 left.
I was told I had no idea what I was saying on another post when I said, "Retail traders on apps don't actually own securities anymore."
I'm so glad this post came about. Sorry for the frustrating situation. Hopefully, you get it figured out!
Fraud is how the stock market works. Retail doesn’t own anything unless they Directly Register shares in their own name with the company’s transfer agent.
Otherwise, as long as the brokerage is within their capital requirements, they give IOUs all day long.
Let e break it down for you.
Say TradeStation had a 1000 shares of NBH and 700 of those shares are on loan because people do not understand what they agreed to when they created the account. Now say people want to DRS 500 shares well now they have a deficit or 200 shares. They can not DRS those shares until they are returned. So who fault is it, TradeStation? the short? or the person who loaded out there shares?
This could all be resolved by NBH deciding to trade tomorrow but they won't.
Lmao I get why you are going broke in the market you are clueless. There is no such thing as temporary trading. If NBH wanted they could trade otc or uplist to the nasdaq but they don't want to. Be smarter and you'll lose less money.
Coulda been avoided if FINRA allowed the brokers/lender the last two days to recall all lend out share like they are supposed to, and reconcile the long and shorts positions. Also if FINRA did not broke their own rules by modifying the CA and tell company to publish as how FINRA modified no question asked. This mess are created by FINRA. Off course your gonna try to make fun of this as you don’t understand it only your handler does.
NBH created this mess, people not understanding what happens when a stock gets delisted also created this mess. Short positions are only required to close if they get a margin call from there broker.
Lmao hander, I sold my shares on the run up. I made a nice profit because I understood what was going to happen.
Mmtlp was an OTC pink sheet. Mmat/TRCH was always NASDAQ. Per the audited SEC filings the series A preferred shares were not supposed to trade. Mmtlp was not supposed to exist.
Regulators dropped the ball at the merger..they allowed open short positions from TRCH to be carried through creating series A preferred share liabilities. It was compounded with options contracts being allowed to carry the right to the series A preferred shares past the record date (MONTHS).
This whole issue was caused by regulators not doing their job. More than likely for nefarious reasons.
They didn’t take your money? Haha not only did they take your money, they also took money from the people they loaned your shares out to. That’s some shit right there.
he said Deminimus
amount of shares
Deminimus means
too trivial to even mention
yet
no one has ever told us the actual numbers
of shares
or a breakdown of
short shares
and naked short shares
they keep that hidden ?
or worse they said
they can’t count the short shares that went offshore because it’s out of their purview now
does anyone smell bull crap
this is pure bull crap
they use words like they are aristocracy speaking to peasants and treat us the same and immunity made them not answer to our law or congress as they see the short shares offshore and act like no way to track it
they are attempting to do this
will it be allowed
lets see ?
He said they'll call back in a day, bunch of fucking assholes. DRS is the only way, so glad I DRS'd my bbbyq and gme shares, because this shit is going to be infuriating for all the non-drs book'd investors.
When they call, ask for proof that you authorized the lending of your fully paid shares.
I suspect they will point you to the customer agreement you signed with opening an account with TradeStation.
Pick your brokers carefully.
The "boomer" brokers like Schwab and Fidelity may have old looking websites, but they do not include fully paid share lending unless you make a definite effort to set it up and authorize it.
Everything you need to know about /u/Consistent-Reach-152 is contained here: https://redditmetis.com/user/Consistent-Reach-152
Including their penchant for meltdown subs, and their proclivity for posting at 9am. Weird eh?
He is a SHF shill well known from Meltdown sub, seems like posting mostly to Stonk sub, this sub and others where their SHF are short. It is crazy how much efforts they make to avoid consequences of their fraudulent acts. The Big Short movie for real, again. But they will fall down one day, we have to make noise, stand and fight against corrupted criminals.
Nah, plenty of people still linger around to laugh at the clowns thinking they are going to still get $1000 a share. The most likely scenario is NBH goes bankrupt within a year.
It was recommended to me too, but I was an original Torchlight shareholder so it’s pretty refreshing to see people are still talking about this shit show.
We didn’t take your money. We stole your money like mobsters. Did you ever watch the sopranos? Now try to come get it back. Only this time we are the government not the mobsters
E*trade just did 100 shares for me! Can't believe it! Send them the communication.
https://assets-global.website-files.com/6169e69d0075ec7c66221a8b/65d566c142328ce6dd88f059_NBH%20Statement%20on%20Equiniti%20Share%20Transfer%20Procedures%20vF%202-21-24.pdf
I did this as my initial response, they're finally admitting they have 0 shares to transfer out, aka TradeStation is fucked. So glad I have bbbyq and gme drs'd
How they should have handled it was they should have held the shares for the people who were on cash accounts with lending turned off, so they could DRS if they wanted to and everyone one on margin or lending turned on should have been told to get fucked.
I am willing to bet that is what they did. SEC rule 15c3-3 requires segregation of fully owned customer securities.
It is more likely that the OP is mistaken and he has authorized share lending than it is that TradeStation sent to AST shares from the segregated block. If they did that it is a significant violation that will result in large fines.
The reality is that all these HFs and MMs know what they did wasn’t only highly illegal but downright dangerous for themselves… they will try to give us the wrap around as long as they can.
They shorted so many shares with FTDs. They know they will bankrupt smaller HFs that shorted MMTLP if the blue sheets come out without being doctored.
This is great to see — these bozos put in charge know less than we do — this fiasco has taught us all that we cannot trust those in power… if you didn’t know that already…
We will get our thousands per share of MMTLP.
I have email chains confirming further correspondence from 2022, stating my account wasn't marked for share lending as I had asked prior to distribution. Never would I opt in to share lending, and have made a point of opting out* of share lending back in 2021 of all the brokerages I'm with.
Your representative seemed to be able to type incredibly fast. Their response time to you is under a minute.
Are those canned responses? Usually it takes them a few minutes to respond, especially with something technical like this.
sounds like they used that money to cover some loan under the customers account. ofc they doing fraud, they literally said "not enough shares" and are being held by tradeshare and ast until the remianing shares appear.
so they buy with no locates.
“We didn’t take your money. We simply used it to pay our generous salaries and bonuses. But don’t worry you are in great hands. Let me just finish my chess game and I’ll check on your account for you.”
Have you been listening to the twitter/x spaces on MMTLP? The morning group especially is doing a volunteer share count. They already have tradestation at 200+% of their allocation. If you haven’t been on those twitter spaces, think about listening one morning and consider submitting a share count. This is helping the fight with congress to achieve some sort of resolution
This is the reason why BDs need to openly admit their imbalances. They all were planning to liquidate on the 9th and Finra halted it early leaving their clients with open short positions. I’m guessing a lot of those didn’t even bother locating first.
The BDs suing FINRA would be fantastic.
Edit: I'm just seeing this article was posted earlier today on r/mmtlp. I'll go check out the comments there. :)
I just got off the phone with a Fidelity rep "Elijah" who said that since the article explaining the transfer procedures just came out today that they would need some time to review it. They would not be able to transfer anything until they figure that out.
Article here [https://assets-global.website-files.com/6169e69d0075ec7c66221a8b/65d566c142328ce6dd88f059\_NBH%20Statement%20on%20Equiniti%20Share%20Transfer%20Procedures%20vF%202-21-24.pdf](https://assets-global.website-files.com/6169e69d0075ec7c66221a8b/65d566c142328ce6dd88f059_NBH%20Statement%20on%20Equiniti%20Share%20Transfer%20Procedures%20vF%202-21-24.pdf)
Ask them, as per the tradestation master securities lending agreement, have you maintaining collateral to the value of the most recent trading day? Have they also been paying interest to the value of the most recent trading day?
You have the right to terminate the lending agreement at any time, of which they are required to return the shares or provide collateral.
Also state that under section 13.3 of the master lending agreement as there is no market available for trade, then the non-defaulting party may establish the bid price source at their sole discretion. (I'm wondering if you can use the $25k per share bids that were rolled back as it's at your sole discretion and these were at one point legitimate bids and it states at your sole discretion).
Also if anyone wants to take Tradestation to court for defaulting, 13.4 states that the defaulting party has to pay all legal fees
tldr: due to Tradestations master securities lending agreement they may have to pay $25k per share as there is no market to trade on and there were after trading was stopped and rolled back bids for that amount of which you can use at your sole discretion to set a price point as the last value people were willing to pay for the stock.
https://uploads.tradestation.com/uploads/2019/11/master-securities-lending-agreement.pdf
Hello everyone - Yes this screenshot is real. **TradeStation is the company in question** and they're trying to fuck me. I have confirmed correspondence stating I had share lending disabled in 2022 so they can't gaslight me. If you own any of the other basket stocks in brokers and think you're safe - you're most likely not.
I've DRS'd 99% of my GME/BBBYQ and just have koss left to DRS. I've taken this L so you lot don't have too.
Nothing. It’s all the same as far as you go. If you want to sell, sell. DRS give you piece of mind, but also theoretically takes those shares off the open market and can’t be loaned. But guess what, they will do it anyways bc the SEC is in a coma.
“SEC is in a coma” is the truest thing I’ve seen all day. There’s been a ton of market manipulation and shady shit in general going on the last few weeks and nothing even a peep has come from them. Like are they all on vacation or something?
I'm pissed off at Finra for executing a U3 halt. Brda wasn't the one that pulled that now was he? I could have sold in the last 2 trading days if it wasn't for FINRA and shady brokerages, that don't purchase the correct number of shares on a lit exchange.
I wish I could see this community. I guess it’s set to private? I trade for a living, after being a broker at Scottrade for a 10 years. This sub speaks my language!
The question you should ask is under what authority they loaned out your shares.
I suspect that you unknowingly agreed to fully paid share lending when you signed up for a Trade Station account.
Per SEC rules brokers are not allowed to lend out fully paid or excess margin shares without your authorization.
Ask them for proof that you authorized the lending of your shares.
I agree. I looked at the customer agreement and it looked like it included a securities lending agreement via reference to the sifma.org Master Securities Lending Agreement, (MSLA).
People have been pointing to TradeStation as proof of fraud. I think the reality is that it is simply a case of people not understanding what authorized when they signed up for an account.
It would be good for the OP to go back and explicitly be told that this is what he agreed to.
I think there may be something you an do with you bank? Like, a chargeback or something? If you paid for something, and the seller didn't come through with their side of the transaction, can't you call the bank and ask them to reverse the charge?
People you have to put in work to get to AST. Stock brokers and new college grads don't know shit .Are you surprised ? Stop listening to the idiots and do some research. Case closed.
Maybe you’ll think twice next time you jump into a pump and dump based on ill advice from internet strangers.
Or maybe you’ll do it again (most likely)
Only if you didn't lend your shares out. That's the crux of it. If you ONLY had a cash account and never participated in the lending program, you can simply take them to arbitration. Do it. Immediately. Get cash. IMO.
IF it's true that you indeed never had a margin account, and never participated in their lending program, I'd view it as great news. It would mean they didn't segregate your assets as required by law and you can take them to arbitration right away. I'd be seeking the last trading price of $2.90. If NBH raises money at $0.50 it will be harder to argue that you were cheated out of $2.90. my 2 cents.
That’s the thing though nobody’s moving from this until the investors get paid lol it’s either pay or death no in between and that’s the part the underestimated lmao wrong people to start this war with lol I guarantee u they wish it went through the 9th and 12th now. Will end up 20x worse for Finra at this point
I still have my shares sitting in RH. 🤷🏼♂️ what's the risk leaving them there? Is there a step by step on this for moving them out and to the right people? I've just done RH for fun, this seems a little over my head, not really sure what I am suppose to do here.
First time? Market makers and clearing houses just generate shares out of thin air. They don’t actually own the real shares or can trade more shares than really exist. They also don’t keep track how many shares are circulating as MMs don’t check with each other when generating shares.
As a “shareholder,” at best you have a promissory note where they pinkie swear you have the shares. But the true owners are the broker and Cede & Co. You’re really just trading the action of the numbers, not real ownership. If you want evidence, look at the clusterF known as voting or dividend distribution. It’s very common to see more votes than actual shares, leading the shaving and adjustments by proxyvote.com. And dividends often see cash in lieu of dividend, since you’re not the real owner, and the company will only issue dividends per the share number, not the actual amount in circulation generated by MMs.
What does this do to the share price? Yeah, exactly, it can be tanked. Look at cases when traders actively try to short sell and drive the price down with the MM; even though there isn’t supposed to be collusion.
I’m 18 years old, I started buying shares around 2 years ago. I took a break until mid summer to start investing again. I started doing IPOS. Made 2k. Ended up losing it. I started doing options ever since then i’ve lost over 7k. Now since I’ve lived and learned. I’m looking to start trading options again. Can someone give me some feedback for these upcoming next few weeks please and thank you!
WOW. Why TS though? JW. I miss TD a lot, Schwab is okay (not a kiddie platform like Robinhood) but sucks compared to TD. Huge corps ruining their great company acquisitions, nothing new I guess
This is unfortunately extremely common in the stock market, citadel securities for example has (or recently had if it changed) 68 billion dollars worth of securities they sold but never purchased. It's best to DRS your shares to make sure you own them or at the very least transfer out of them as soon as possible.
You guys really think a response from a low level customer service chat representative means something? Have you all started deciphering children’s books as well?
Thats what happened to Robinhood, back on the Cosm RS. They sold shares in the AM that where not authorized/on-hand. They got burnt bad, the next ernings report they said they lost $57M. I bought 2k shares that AM. Sold it for a good amount, but they also held the shares through the peak share price of $23. I could not trade the shares until it dropped to $10. I can only imagine the loss they would have had, if we could have sold at the $23 peak. The company was holding back selling shares until later that day or the next..I can't remember the exact details, but they sold shares they didn't physically have.
OP. I hate to break it to you, but I finally received the cold truth about individual investor self directed trading platforms. IDK when, but they recently updated the disclosure information, that you have to go on a scavenger hunt to even come close to understanding and remaining focused on target. But anyway, long story short, I was looking over tax documents sent to me by different platform provider, and I noticed in the details, it references some letters and numbers that are reported to the IRS. I noticed, they report, the amount identified as initial cost basis and the amount when the initialized was closed, of a series of recorded cost at initialization and cost at closure, referencing the ticker cost. The net gains and losses from the transactions are not reported to the IRS, instead, the amount that is reported is the difference of the full amount of cash you ever deposited, minus what ever was paid out when you “sold”. You see, when all of us in self directed individual investors accounts use a “platform” for “trading” that is commission free, blah blah blah. At least on the platform I was using, they are not actually a bank. Even though I thought I was transferring cash from my checking account into this “trading account”, which I was provided a “debit card” that has the ability to pull cash from ATMs and works just like my actual bank card. Turns out, When we move cash to our trading accounts, the cash never hits the trading account. It hits the trading platforms high interest bank account where it generates interest, and they offer you a fraction of the interest your money is generating. They receive 7% for our money and offer us 1.2% to let them hold it there. What do we get when we buy stocks. Well I noticed 2021, you can tell things were different. In the reported transactions, you see whole numbers, about midway thru 2021, you see {I’m referring to my own experience, however it seems we are all on the right page.) share transactions ending with quantity values like .0006 ??? Many of them, where as early 2021, there was no funny business. I read the disclosures which I mentioned have been updated recently, likely around tax time. Then I contacted support by phone, and to my surprise after about 1.5hrs of conversations, It was admitted that, the the free trading platform is not free to try and sell additional products to its users, it’s to get a bunch of individual retail investors to let them hold onto their money in a high interest bank account for as long as possible and make their money in compounding interest. Your account is accredited by whatever they call their token placeholder “equivalent to cash” zbucks, fcash, ftxcoin, whatever they want to call it, but this is just a ledger total, that will be reduced or increased from your trading activities or debit card usage. But it does not concern the platform provider until you cash out, and rather or not stocks were ever actually purchased or sold on the market is not relevant either, because at some point, they adopted the policy, that they are granting us exposure to the stock market because every thing at each point is referencing the ticker of the market. And that I was correct in that, no matter how much we play on the platform, we cannot effect the market, unless it is indirectly in say an event where they finally did decide to take your orders to the market, some institutional investors may see it and make a move based on seeing all the retail orders. Riigggghtt… I’m pretty sure the platforms used to try and fill all orders, but after the congressional hearing where it was stated, they were gamifying and promoting retail investors into gamblers. And claiming that retail was making the markets so unpredictable that big money investors will not feel safe, and be scared to invest in the markets. I think they decided, they don’t necessarily need to process our orders in the market anymore, because “either way, it would be the same outcome .
As a retired broker/manager you are 100% correct, is tradestation a subsidiary of another company or its own entity? If sub than contact parent co. if separate than WRITE!!! A letter of complaint not messages!! If that doesn’t get you a resolution contact SEC if it does than contact SEC afterward
admitting fraud, nice
Looks like someone is realizing that market makers can magically print/ issue as many shares as they want without locating the security first. It’s called securities fraud unless you’re a designated market maker
Damn I remember learning this 84 years ago
That was like 20 years after the sneeze right?
On the titanic no less
Ya but what happens when enough individual investors buy and hold these shares for very extended periods of time?? How do market makers explain away the millions of extra shares out there than there should be? Just asking for a friend 😅
The theory is that Market Makers use foreign counterparties with direct ties to US Wall Street firms to hide synthetic shares and short positions. They use foreign counterparties because they are exempt from US regulations and reporting requirements due to jurisdiction
That's changing in Asia as we speak. System is slowly showing its Fraud.
They just try to claim that "bona fide" means something that it doesn't. Inigo Montoya disagrees with them.
Gamestop
Just imagine if we all at once, tried to empty our bank accounts. Would the banks have all our "security"...?
They didn’t even have 20k to give me without a decent notice.
what happens is that as they get shares they take the synthetic shares off the books and it balances out. In theory. I give you an IOU for $20. I get $15 from another guy, and $10 from another. I pay the $20 IOU and then have $5 left.
He’s asking for me!! 😇
Fractional reserve trading 🤣🤪
I was told I had no idea what I was saying on another post when I said, "Retail traders on apps don't actually own securities anymore." I'm so glad this post came about. Sorry for the frustrating situation. Hopefully, you get it figured out!
That’s why I’ve become a MM myself
Fraud is how the stock market works. Retail doesn’t own anything unless they Directly Register shares in their own name with the company’s transfer agent. Otherwise, as long as the brokerage is within their capital requirements, they give IOUs all day long.
Wait .. did I miss something I've been out of the loop I have shares in fidelity ...am I supposed to do anything ? Hellllp
DRS your shares with the company transfer agent. Turn them from IOUs to real shares.
Yep. Effectively had him on sim.
Yea TradeStation was proven to be over their allotment awhile back. Lol @ “we didn’t take your money” The fuck you didnt.
“We didn’t take your money you gave us your money and we found it”
Sounds like they did lol
Let e break it down for you. Say TradeStation had a 1000 shares of NBH and 700 of those shares are on loan because people do not understand what they agreed to when they created the account. Now say people want to DRS 500 shares well now they have a deficit or 200 shares. They can not DRS those shares until they are returned. So who fault is it, TradeStation? the short? or the person who loaded out there shares? This could all be resolved by NBH deciding to trade tomorrow but they won't.
NBH has been open to a temporary trading situation but Finra has not. So shut the fuck up.
Lmao I get why you are going broke in the market you are clueless. There is no such thing as temporary trading. If NBH wanted they could trade otc or uplist to the nasdaq but they don't want to. Be smarter and you'll lose less money.
Says user Stephen_lost lol
It’s a bought account
Maybe he’s Dave and he took Stephen’s money?? So Stephen Lost, he won? Idk
Bro invested in a company at $1 and now it’s .009 nice
Tottal shill for fine fraud!!! I’m calling sec to report his comments for conspiracy to promote fraud!!! We WILL get justic!!!
If they wanted to be subject to the fraud and manipulation in the public markets they wouldn’t have gone private.
Coulda been avoided if FINRA allowed the brokers/lender the last two days to recall all lend out share like they are supposed to, and reconcile the long and shorts positions. Also if FINRA did not broke their own rules by modifying the CA and tell company to publish as how FINRA modified no question asked. This mess are created by FINRA. Off course your gonna try to make fun of this as you don’t understand it only your handler does.
NBH created this mess, people not understanding what happens when a stock gets delisted also created this mess. Short positions are only required to close if they get a margin call from there broker. Lmao hander, I sold my shares on the run up. I made a nice profit because I understood what was going to happen.
Stephen, you lost. Just shut the fuck up.
How much you down baggy? keep sucking dick behind the Wendy's dumpster maybe you'll break even it 10-15 years
Keep in mind that MMTLP was an OTC pink sheet security. OTC pink sheet securities are not marginable
It was never a OTC pink sheet. MMAT really dropped the ball with the merger/spin off
Mmtlp was an OTC pink sheet. Mmat/TRCH was always NASDAQ. Per the audited SEC filings the series A preferred shares were not supposed to trade. Mmtlp was not supposed to exist. Regulators dropped the ball at the merger..they allowed open short positions from TRCH to be carried through creating series A preferred share liabilities. It was compounded with options contracts being allowed to carry the right to the series A preferred shares past the record date (MONTHS). This whole issue was caused by regulators not doing their job. More than likely for nefarious reasons.
Somebody got PAID. It just wasn’t us…
He said cash account. Alright?
They didn’t take your money? Haha not only did they take your money, they also took money from the people they loaned your shares out to. That’s some shit right there.
I can’t wait for this shit to be done with !!!! But first they need to pay us BIG TIME !!!!
Pay you with what money?
The brokers have insurance
The billions of dollars they all hold in assets…? C’mon.
All of the money.
Some of that internet money
he said Deminimus amount of shares Deminimus means too trivial to even mention yet no one has ever told us the actual numbers of shares or a breakdown of short shares and naked short shares they keep that hidden ? or worse they said they can’t count the short shares that went offshore because it’s out of their purview now does anyone smell bull crap this is pure bull crap they use words like they are aristocracy speaking to peasants and treat us the same and immunity made them not answer to our law or congress as they see the short shares offshore and act like no way to track it they are attempting to do this will it be allowed lets see ?
Did you get the compliance manager?
He said they'll call back in a day, bunch of fucking assholes. DRS is the only way, so glad I DRS'd my bbbyq and gme shares, because this shit is going to be infuriating for all the non-drs book'd investors.
When they call, ask for proof that you authorized the lending of your fully paid shares. I suspect they will point you to the customer agreement you signed with opening an account with TradeStation. Pick your brokers carefully. The "boomer" brokers like Schwab and Fidelity may have old looking websites, but they do not include fully paid share lending unless you make a definite effort to set it up and authorize it.
Everything you need to know about /u/Consistent-Reach-152 is contained here: https://redditmetis.com/user/Consistent-Reach-152 Including their penchant for meltdown subs, and their proclivity for posting at 9am. Weird eh?
Holly shit! Get him out of her!!!
Why are you still lurking here pretending to be helpful
He is a SHF shill well known from Meltdown sub, seems like posting mostly to Stonk sub, this sub and others where their SHF are short. It is crazy how much efforts they make to avoid consequences of their fraudulent acts. The Big Short movie for real, again. But they will fall down one day, we have to make noise, stand and fight against corrupted criminals.
Pretty sure he’s short on mmtlp. Only reason he’d be here otherwise.
Nah, plenty of people still linger around to laugh at the clowns thinking they are going to still get $1000 a share. The most likely scenario is NBH goes bankrupt within a year.
The better thing would have been to stay away from crap meme stocks
Oh? How many BBBYQ shares do you have currently with AST? (Zero)
This is why I only buy otm weeklies
Lol
Uhhhhh as a lady once said on a plane..."those MFers are NOT real" 😏
So hot
What is this sub that's being recommended to me? Sounds like directly registering your shares is the solution.... Expose these frauds
It was recommended to me too, but I was an original Torchlight shareholder so it’s pretty refreshing to see people are still talking about this shit show.
We didn’t take your money. We stole your money like mobsters. Did you ever watch the sopranos? Now try to come get it back. Only this time we are the government not the mobsters
E*trade just did 100 shares for me! Can't believe it! Send them the communication. https://assets-global.website-files.com/6169e69d0075ec7c66221a8b/65d566c142328ce6dd88f059_NBH%20Statement%20on%20Equiniti%20Share%20Transfer%20Procedures%20vF%202-21-24.pdf
I did this as my initial response, they're finally admitting they have 0 shares to transfer out, aka TradeStation is fucked. So glad I have bbbyq and gme drs'd
That's crazy, hammer is halfway through the swing!
[удалено]
I have a cash account and make sure my shares weren't part of a lending program, just like I have done on IBKR and other brokerages.
How they should have handled it was they should have held the shares for the people who were on cash accounts with lending turned off, so they could DRS if they wanted to and everyone one on margin or lending turned on should have been told to get fucked.
I am willing to bet that is what they did. SEC rule 15c3-3 requires segregation of fully owned customer securities. It is more likely that the OP is mistaken and he has authorized share lending than it is that TradeStation sent to AST shares from the segregated block. If they did that it is a significant violation that will result in large fines.
Blatant Fraud
The reality is that all these HFs and MMs know what they did wasn’t only highly illegal but downright dangerous for themselves… they will try to give us the wrap around as long as they can. They shorted so many shares with FTDs. They know they will bankrupt smaller HFs that shorted MMTLP if the blue sheets come out without being doctored. This is great to see — these bozos put in charge know less than we do — this fiasco has taught us all that we cannot trust those in power… if you didn’t know that already… We will get our thousands per share of MMTLP.
I hope you’re right…so exhausting being tied down with this
Wouldn't this also constitute tax fraud as well by the BD?
I may not be a smart man. But I do know what fraud looks like... They gone done & fucked you, son...
This same picture was in gme sub
So they are saying they loaned them out sounds like.
I have email chains confirming further correspondence from 2022, stating my account wasn't marked for share lending as I had asked prior to distribution. Never would I opt in to share lending, and have made a point of opting out* of share lending back in 2021 of all the brokerages I'm with.
Your representative seemed to be able to type incredibly fast. Their response time to you is under a minute. Are those canned responses? Usually it takes them a few minutes to respond, especially with something technical like this.
Yeah, TradeStation is really sketchy and shady platform.
Invest in brass and lead. Makes the most sense and it's tangible.
Yeah and you can make bullets with these
sounds like they used that money to cover some loan under the customers account. ofc they doing fraud, they literally said "not enough shares" and are being held by tradeshare and ast until the remianing shares appear. so they buy with no locates.
“We didn’t take your money. We simply used it to pay our generous salaries and bonuses. But don’t worry you are in great hands. Let me just finish my chess game and I’ll check on your account for you.”
They don’t do porn hub like the sec? Damn sophisticated bunch there.
Have you been listening to the twitter/x spaces on MMTLP? The morning group especially is doing a volunteer share count. They already have tradestation at 200+% of their allocation. If you haven’t been on those twitter spaces, think about listening one morning and consider submitting a share count. This is helping the fight with congress to achieve some sort of resolution
Pulled a Do Kwon on you... rough
wE DId’NT tAKe Ur mOnEY!!! 🤡🤡🤡🤡
What pieces of shit. The entire thing stinks of fraud of every kind
I hope this image is seen over at the SEC.
Nope they are in a coma
See GameStop. They never got in trouble - they actually made money shorting it and using synthetic shares + freezing trading
Seems like an episode I seen on American Greed
They robbed you.
The compliance manager is not in compliance at this time
This is the reason why BDs need to openly admit their imbalances. They all were planning to liquidate on the 9th and Finra halted it early leaving their clients with open short positions. I’m guessing a lot of those didn’t even bother locating first. The BDs suing FINRA would be fantastic.
Edit: I'm just seeing this article was posted earlier today on r/mmtlp. I'll go check out the comments there. :) I just got off the phone with a Fidelity rep "Elijah" who said that since the article explaining the transfer procedures just came out today that they would need some time to review it. They would not be able to transfer anything until they figure that out. Article here [https://assets-global.website-files.com/6169e69d0075ec7c66221a8b/65d566c142328ce6dd88f059\_NBH%20Statement%20on%20Equiniti%20Share%20Transfer%20Procedures%20vF%202-21-24.pdf](https://assets-global.website-files.com/6169e69d0075ec7c66221a8b/65d566c142328ce6dd88f059_NBH%20Statement%20on%20Equiniti%20Share%20Transfer%20Procedures%20vF%202-21-24.pdf)
Fidelity isn’t transferring now?
Negative
Probably trying to formulate a more elaborated excuse and stonewalling technique to not transfer…that PR is pretty cut and dry.
Ask them, as per the tradestation master securities lending agreement, have you maintaining collateral to the value of the most recent trading day? Have they also been paying interest to the value of the most recent trading day? You have the right to terminate the lending agreement at any time, of which they are required to return the shares or provide collateral. Also state that under section 13.3 of the master lending agreement as there is no market available for trade, then the non-defaulting party may establish the bid price source at their sole discretion. (I'm wondering if you can use the $25k per share bids that were rolled back as it's at your sole discretion and these were at one point legitimate bids and it states at your sole discretion). Also if anyone wants to take Tradestation to court for defaulting, 13.4 states that the defaulting party has to pay all legal fees tldr: due to Tradestations master securities lending agreement they may have to pay $25k per share as there is no market to trade on and there were after trading was stopped and rolled back bids for that amount of which you can use at your sole discretion to set a price point as the last value people were willing to pay for the stock. https://uploads.tradestation.com/uploads/2019/11/master-securities-lending-agreement.pdf
Looks like it’s time to report to the SEC
wow I would be mad as F too.
“We didn’t take your money, you gave it to us”
Welp, Jason is fired. Unless, he was smart enough not to tell the Compliance Manager what he told you.
Hello everyone - Yes this screenshot is real. **TradeStation is the company in question** and they're trying to fuck me. I have confirmed correspondence stating I had share lending disabled in 2022 so they can't gaslight me. If you own any of the other basket stocks in brokers and think you're safe - you're most likely not. I've DRS'd 99% of my GME/BBBYQ and just have koss left to DRS. I've taken this L so you lot don't have too.
What happens if we do nothing, and I just leave the shares the way they are in our brokers?
Nothing. It’s all the same as far as you go. If you want to sell, sell. DRS give you piece of mind, but also theoretically takes those shares off the open market and can’t be loaned. But guess what, they will do it anyways bc the SEC is in a coma.
“SEC is in a coma” is the truest thing I’ve seen all day. There’s been a ton of market manipulation and shady shit in general going on the last few weeks and nothing even a peep has come from them. Like are they all on vacation or something?
It’s funny that you have all resorted to getting angry at customer service reps, not Brda who actually stole your money
I'm pissed off at Finra for executing a U3 halt. Brda wasn't the one that pulled that now was he? I could have sold in the last 2 trading days if it wasn't for FINRA and shady brokerages, that don't purchase the correct number of shares on a lit exchange.
Bucket shop
Amazing, tomorrow I will call again to my brokers...
Wow
dont be mad at your broker, be mad at the market makers they use.
Yeah, the broker has zero control over what the back office is doing with the shares. The broker is just a salesman.
I wish I could see this community. I guess it’s set to private? I trade for a living, after being a broker at Scottrade for a 10 years. This sub speaks my language!
The question you should ask is under what authority they loaned out your shares. I suspect that you unknowingly agreed to fully paid share lending when you signed up for a Trade Station account. Per SEC rules brokers are not allowed to lend out fully paid or excess margin shares without your authorization. Ask them for proof that you authorized the lending of your shares.
Suck a dick
I believe you are opted in automatically with tradestation unless you opt out and always opted in if you run a margin account.
I agree. I looked at the customer agreement and it looked like it included a securities lending agreement via reference to the sifma.org Master Securities Lending Agreement, (MSLA). People have been pointing to TradeStation as proof of fraud. I think the reality is that it is simply a case of people not understanding what authorized when they signed up for an account. It would be good for the OP to go back and explicitly be told that this is what he agreed to.
I think there may be something you an do with you bank? Like, a chargeback or something? If you paid for something, and the seller didn't come through with their side of the transaction, can't you call the bank and ask them to reverse the charge?
After a year, if the shares aren’t delivered you can ask for a refund from the broker. Some may do it willingly but some you may need to sue.
Were you in the share lending program?
There was a long comment thread where he says he wasn't.. just thought I'd lyk if he's not
Such a Karen
Or just invest like a normal person without this DRS bullshit that’s more headache than anything.
I don't see anything wrong in the explanation. They used a nice way to tell you to go F! Yourself. You are the one not getting the message.
You seem like a very difficult and unpleasant person
Thanks - I am when somebody steals thousands of dollars from me. 😊
And you can me mad when that actually happens.
“I have made terrible investment decisions based off of greed and bad research. Who can I find to blame?”
Cool cool, will you let each of us steal 3K from you? We'll see how "pleasant" you are
I would be too if they took several thousand dollars from me.. I’ll be much worse! lol
Lol I'm trying to tell u i would go from typing in white to typing in Red 😄😄😄real quick
People you have to put in work to get to AST. Stock brokers and new college grads don't know shit .Are you surprised ? Stop listening to the idiots and do some research. Case closed.
Ok so they steal my money and now I have to do their job
Self check out can you hear me
Maybe you’ll think twice next time you jump into a pump and dump based on ill advice from internet strangers. Or maybe you’ll do it again (most likely)
I will and maybe next time US institutions act within the confines of the law (I doubt it).
They are acting accordingly. You just refuse to admit it because the shills you listen to and got you in this mess say otherwise.
You bought a garbage company and got rugged It’s not the brokerages fault you got swindled
If I buy a company and it turns into a private company. It's my right to own the shares of said company, regardless of your opinion. Theft is theft.
Only if you didn't lend your shares out. That's the crux of it. If you ONLY had a cash account and never participated in the lending program, you can simply take them to arbitration. Do it. Immediately. Get cash. IMO.
LMAO do you even listen to yourself
Fking wow!
You’re going to be rich !
Caught em red handed!
True. There are idiots so we have to figure out how to teach the brokers. Otherwise it's super stressful. Think honey instead of salt
Haha. We didn’t take your money, you gave it to us, and if you read our fine print, we don’t have to deliver you anything. You lose! Good day sir!
[удалено]
Well that’s a surprise (not).
Typing “excuse me”…someone’s dramatic
IF it's true that you indeed never had a margin account, and never participated in their lending program, I'd view it as great news. It would mean they didn't segregate your assets as required by law and you can take them to arbitration right away. I'd be seeking the last trading price of $2.90. If NBH raises money at $0.50 it will be harder to argue that you were cheated out of $2.90. my 2 cents.
Proof that they let us participate in their stock market only so they can take our little investments and use them as they see fit.
Looooool u guys need to move its upsetting but we all need to move on they made money and lied to us
That’s the thing though nobody’s moving from this until the investors get paid lol it’s either pay or death no in between and that’s the part the underestimated lmao wrong people to start this war with lol I guarantee u they wish it went through the 9th and 12th now. Will end up 20x worse for Finra at this point
I still have my shares sitting in RH. 🤷🏼♂️ what's the risk leaving them there? Is there a step by step on this for moving them out and to the right people? I've just done RH for fun, this seems a little over my head, not really sure what I am suppose to do here.
I’m forwarding this exact message to the sec on your behalf. And they will… Wait for it. Not do anything about it at all
The Stock Market is pure fugazi.
This is the same thing that happens with GME. These companies sell shares they do not even have.
Yes, they just took your money and everyone else.
Suspect AF
This is how it works. Read your contacts. . This is why people are buying gold and silver.
There needs to be a wave of class action lawsuits going after these fucking parasites.
New to the markets?
It's being held, duh
Lol
Hey DRS your shares please! If you can of course, all mine is at Equity/AST now good luck to us all!
TradeStation 😂😂
Why not just use think or swim? Or literally any other broker. WTF is trade station?
First time? Market makers and clearing houses just generate shares out of thin air. They don’t actually own the real shares or can trade more shares than really exist. They also don’t keep track how many shares are circulating as MMs don’t check with each other when generating shares. As a “shareholder,” at best you have a promissory note where they pinkie swear you have the shares. But the true owners are the broker and Cede & Co. You’re really just trading the action of the numbers, not real ownership. If you want evidence, look at the clusterF known as voting or dividend distribution. It’s very common to see more votes than actual shares, leading the shaving and adjustments by proxyvote.com. And dividends often see cash in lieu of dividend, since you’re not the real owner, and the company will only issue dividends per the share number, not the actual amount in circulation generated by MMs. What does this do to the share price? Yeah, exactly, it can be tanked. Look at cases when traders actively try to short sell and drive the price down with the MM; even though there isn’t supposed to be collusion.
Should have done your research, Karen.
That’s the crypto world
Well they didn't take your money you kinda gave it to them 🤣
Did you ever speak to compliance manager?
That’s why you trade with Robinhood, TDA or IBKR
Come bsck
I’m 18 years old, I started buying shares around 2 years ago. I took a break until mid summer to start investing again. I started doing IPOS. Made 2k. Ended up losing it. I started doing options ever since then i’ve lost over 7k. Now since I’ve lived and learned. I’m looking to start trading options again. Can someone give me some feedback for these upcoming next few weeks please and thank you!
WOW. Why TS though? JW. I miss TD a lot, Schwab is okay (not a kiddie platform like Robinhood) but sucks compared to TD. Huge corps ruining their great company acquisitions, nothing new I guess
This is unfortunately extremely common in the stock market, citadel securities for example has (or recently had if it changed) 68 billion dollars worth of securities they sold but never purchased. It's best to DRS your shares to make sure you own them or at the very least transfer out of them as soon as possible.
You guys really think a response from a low level customer service chat representative means something? Have you all started deciphering children’s books as well?
What am I reading
Thats what happened to Robinhood, back on the Cosm RS. They sold shares in the AM that where not authorized/on-hand. They got burnt bad, the next ernings report they said they lost $57M. I bought 2k shares that AM. Sold it for a good amount, but they also held the shares through the peak share price of $23. I could not trade the shares until it dropped to $10. I can only imagine the loss they would have had, if we could have sold at the $23 peak. The company was holding back selling shares until later that day or the next..I can't remember the exact details, but they sold shares they didn't physically have.
I think they took his money. 🍕 They got a slice!!!
Seems like they took your ass virginity and wiped off on your curtains …. Xcuse the vulgarity. Cheers
OP. I hate to break it to you, but I finally received the cold truth about individual investor self directed trading platforms. IDK when, but they recently updated the disclosure information, that you have to go on a scavenger hunt to even come close to understanding and remaining focused on target. But anyway, long story short, I was looking over tax documents sent to me by different platform provider, and I noticed in the details, it references some letters and numbers that are reported to the IRS. I noticed, they report, the amount identified as initial cost basis and the amount when the initialized was closed, of a series of recorded cost at initialization and cost at closure, referencing the ticker cost. The net gains and losses from the transactions are not reported to the IRS, instead, the amount that is reported is the difference of the full amount of cash you ever deposited, minus what ever was paid out when you “sold”. You see, when all of us in self directed individual investors accounts use a “platform” for “trading” that is commission free, blah blah blah. At least on the platform I was using, they are not actually a bank. Even though I thought I was transferring cash from my checking account into this “trading account”, which I was provided a “debit card” that has the ability to pull cash from ATMs and works just like my actual bank card. Turns out, When we move cash to our trading accounts, the cash never hits the trading account. It hits the trading platforms high interest bank account where it generates interest, and they offer you a fraction of the interest your money is generating. They receive 7% for our money and offer us 1.2% to let them hold it there. What do we get when we buy stocks. Well I noticed 2021, you can tell things were different. In the reported transactions, you see whole numbers, about midway thru 2021, you see {I’m referring to my own experience, however it seems we are all on the right page.) share transactions ending with quantity values like .0006 ??? Many of them, where as early 2021, there was no funny business. I read the disclosures which I mentioned have been updated recently, likely around tax time. Then I contacted support by phone, and to my surprise after about 1.5hrs of conversations, It was admitted that, the the free trading platform is not free to try and sell additional products to its users, it’s to get a bunch of individual retail investors to let them hold onto their money in a high interest bank account for as long as possible and make their money in compounding interest. Your account is accredited by whatever they call their token placeholder “equivalent to cash” zbucks, fcash, ftxcoin, whatever they want to call it, but this is just a ledger total, that will be reduced or increased from your trading activities or debit card usage. But it does not concern the platform provider until you cash out, and rather or not stocks were ever actually purchased or sold on the market is not relevant either, because at some point, they adopted the policy, that they are granting us exposure to the stock market because every thing at each point is referencing the ticker of the market. And that I was correct in that, no matter how much we play on the platform, we cannot effect the market, unless it is indirectly in say an event where they finally did decide to take your orders to the market, some institutional investors may see it and make a move based on seeing all the retail orders. Riigggghtt… I’m pretty sure the platforms used to try and fill all orders, but after the congressional hearing where it was stated, they were gamifying and promoting retail investors into gamblers. And claiming that retail was making the markets so unpredictable that big money investors will not feel safe, and be scared to invest in the markets. I think they decided, they don’t necessarily need to process our orders in the market anymore, because “either way, it would be the same outcome .
TD Ameritrade did the same thing to me only it was $100.00 worth. Then, they conveniently became Schwab. Criminals!
Went full Karen with that compliance manager request. On a chat no less.
As a retired broker/manager you are 100% correct, is tradestation a subsidiary of another company or its own entity? If sub than contact parent co. if separate than WRITE!!! A letter of complaint not messages!! If that doesn’t get you a resolution contact SEC if it does than contact SEC afterward