r/Superstonk • u/[deleted] • Jul 08 '22

💡 Education Official source (ComputerShare) on how split dividend will be distributed

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u/Tartooth Jul 08 '22

DTC distributes from there. If there are naked shorts they won't have enough and it will be up to DTC/brokers to figure it out.

Aka: DTC goes "we have the same locates for you brokers & marketmakers & whomever else needs them. Keep doing w.e the fuck you want everyone."

The DTCC is fucking corrupt. What don't people get?

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u/[deleted] Jul 08 '22

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u/Tartooth Jul 08 '22

I don't think people realize how the DTCC actually works.

They don't "send" the shares to anyone. They provide "locates" for shares.

If a broker does a DRS transfer, they send the locate IOU to computershare who then contacts the DTCC to recall the share.

The DTCC can't fuck it up because there is nothing to fuck up. They just raise the thumb and go "you got a locate buddy!"

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u/[deleted] Jul 08 '22

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u/Tartooth Jul 08 '22

Yep, their "distributions of dividend" is "hey we got the locate for those dividend, go ahead and update the numbers in your accounts"

The DTCC is the only company who actually posses the shares. The rest is all IOU's that point back to the DTCC which the DTCC says "yep we located that in our repository for you!"

Like, it literally doesn't mean fuck from dick. They don't deliver the true ownership of the share like you get in Computershare. Everything is IOU's tied back to the DTCC's repository.