DTCC is going electronic. Is this the "spin" story for all of the NS problems? "I'm sorry, your Honor, the paperwork was just too overwhelming for us to keep up. But we are working feverishly to resolve this unfortunate situation."
(BSNS WIRE) DTCC Forms Alternative Investment Products Advisory Committee DTCC Forms Alternative Investment Products Advisory Committee
Business Editors
NEW YORK--(BUSINESS WIRE)--April 26, 2005--
Sixteen Industry Representatives Team with DTCC to Explore Standard Platform for Processing, Settling Trades of Alternative Investment Products
The Depository Trust & Clearing Corporation (DTCC) today announced the formation of an industry advisory committee on alternative investment products to develop an automated, centralized and streamlined approach to the processing of these instruments. Comprising a cross-section of the industry, the advisory committee will look to leverage DTCC's existing infrastructure in support of an industry as it seeks to keep pace with current and future demands of a market that is undergoing explosive growth. In recent years, the alternative investment market has been booming, with increases in both the amount of money being invested in these instruments and in the different types of alternative investments being offered, which today include hedge funds, managed futures, private equity/debt, and other nontraditional stock and bond instruments. According to The Wall Street Journal, investments in hedge funds alone have more than doubled to $1 trillion in assets from $400 billion since 2001, and some predict they will grow to more than $4 trillion by 2010. The majority of these trades are processed manually, making the complex paperwork labor-intensive and time-consuming. For example, paper-based matching and confirmations can literally take weeks to complete, a huge impediment given the size and complexity of some of these transactions. Where technology is used, it is largely expensive, unscalable and proprietary; and there is no single, standard system for processing trades of alternative investment products. "This is a great step forward for alternative investments and hedge funds, specifically," said Robert Alderman, managing director and head of Alternative Investments for Merrill Lynch's Global Private Client Group and a member of the advisory committee. "As the industry continues to grow, efficiency has become more important, and the work being done will address this growing need." "The alternative investment products industry is at a crossroads, much like mutual funds were 20 years ago," said Ann Bergin, managing director for Mutual Fund Services at DTCC and head of the advisory committee. "In the mid-1980s mutual funds were processed in a manual environment but were growing by leaps and bounds. We're seeing the same situation today with alternative investment products. DTCC is working closely with the industry to build a solution, in much the same way we helped the mutual fund industry with Fund/SERV(R) and our other services." Fund/SERV, introduced in 1986, is the industry standard for processing and settling a broad range of investment funds and for linking fund companies with their distributor partners, including broker/dealers, banks and financial planners. Bergin added that strong collaboration with industry members was a focal point of DTCC's business strategy. "By establishing customer involvement as early as possible in the research and development stage, we can ensure that a business can achieve critical mass and will be self-sustaining," she said. As a first step in its needs assessment, the Steering Committee surveyed its members on a range of issues, including alternative investment products deemed to be priorities for automation, current and projected transaction volumes for various investment products, and preferred technology platforms on which solutions can be developed. Based on the survey results, the committee will focus its immediate attention on five areas: new accounts and subscriptions, purchases and redemptions, commissions, position reporting, and account maintenance. Additional areas of focus may include data exchange, such as prospectus information, breakpoints and rights of accumulation; offshore transactions; and exchange-traded funds.
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Note to Editors
Advisory committee members include: Bear, Stearns & Co., Inc. Charles Schwab & Co., Inc. Man Investments Inc. Merrill Lynch & Co., Inc. Milestone International Asset Management Morgan Keegan & Co., Inc. Morgan Stanley Piper Jaffray & Co. Raymond James Financial Inc. RBC Dain Rauscher Inc. Rydex Capital Partners, a division of Rydex Investments Smith Barney, a division of Citigroup Global Markets, Inc. The Torrey Funds Tremont Capital Management, Inc. UBS Financial Securities Inc.
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About DTCC
Through its subsidiaries, DTCC provides clearance, settlement and information services for equities, corporate and municipal bonds, government and mortgage-backed securities and over-the-counter derivatives. DTCC's depository also provides custody and asset servicing for more than two million securities issues from the United States and 100 other countries and territories. In addition, DTCC is a leading processor of mutual funds and insurance transactions, linking funds and carriers with their distribution networks. DTCC has operating facilities in multiple locations in the United States and overseas. For more information on DTCC, visit www.dtcc.com.
KEYWORD: NORTH AMERICA NEW YORK UNITED STATES INDUSTRY KEYWORD: PROFESSIONAL SERVICES BANKING FINANCE SOURCE: The Depository Trust & Clearing Corporation
posted
You know,frequently I think we lose sight of what we are supposed to be doing. It doesnt matter how many companies we own 10% of or how many companies own 10% of us. The only thing we should be watching, and the CMKX should be working on more than anything, is the PPS. None of us make any money arguing about this and that, if the PPS doesnt move. Legal, all your posts wrapped up together are totally meaningless as long as we are trading at .0001 or less. IMHO, if I have waited 3 years and get zilch from my investment, then I call it a scam. I dont giveadam how powerful the SEC and DTCC are, they still cant stop UC from putting out PRs. If they can, then why the announcement of another expenditure on another mining company. It should not take this long to get the figures in order and get a filing done. No way. If all my financial records for the last 20 years were destroyed in a fire, it wouldnt take me more than a year to restore them. So what is taking UC so long. I'm tired of wrangling over meaningless subjects with no movement in the PPS. Where's the money, that's all I care about. Show me the money, otherwise just go bankrupt and go away, CMKX.
-------------------- If I give you bad information, please feel free to sue me. I have nothing left anyway. Ed
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quote:Originally posted by ed19363: You know,frequently I think we lose sight of what we are supposed to be doing. It doesnt matter how many companies we own 10% of or how many companies own 10% of us. The only thing we should be watching, and the CMKX should be working on more than anything, is the PPS. None of us make any money arguing about this and that, if the PPS doesnt move. Legal, all your posts wrapped up together are totally meaningless as long as we are trading at .0001 or less. IMHO, if I have waited 3 years and get zilch from my investment, then I call it a scam. I dont giveadam how powerful the SEC and DTCC are, they still cant stop UC from putting out PRs. If they can, then why the announcement of another expenditure on another mining company. It should not take this long to get the figures in order and get a filing done. No way. If all my financial records for the last 20 years were destroyed in a fire, it wouldnt take me more than a year to restore them. So what is taking UC so long. I'm tired of wrangling over meaningless subjects with no movement in the PPS. Where's the money, that's all I care about. Show me the money, otherwise just go bankrupt and go away, CMKX.
Interesting thoughts - and to add salt to the wound. understanding that they are 2 seperate companies - if you look at USCA.PK, there is reaction in the PPS to the PR Entourage issued. USCA.pk is currently up close to 30%. CMKX - 0%. This is a prime example again on where I struggle trying to understand CMKX. Yes, I already know that "....it will take forever to move the PPS with an O/S as high as CMKX"
-------------------- "Things that make you go hmmmmmm......"
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posted
Hell folks, legal knows CMKX is a lost cause. He's just trying to put on a confident face for our benefit and for the benefit of the CMKX cult. We know who they are and where many went, huh?
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quote:Originally posted by legaleagle: And thank you, as well, Bob. OK now back to "good natured" legal bashing.
Legal - my hats off to you for being such a sport. Never to be pushed off course or thoughts / opinions re-directed due to others some what influential comments
-------------------- "Things that make you go hmmmmmm......"
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that is the most absurd thing I have heard. not to pick a bone with anybody, but why label them a "cult"? there are lots of people that buy a stock because a family member gave them an idea to buy it.
http://www.m-w.com/cgi-bin/dictionary?book=Dictionary&va=cult&x=20&y=15 Main Entry: cult Pronunciation: 'k< Function: noun Usage: often attributive Etymology: French & Latin; French culte, from Latin cultus care, adoration, from colere to cultivate -- more at WHEEL 1 : formal religious veneration : WORSHIP 2 : a system of religious beliefs and ritual; also : its body of adherents 3 : a religion regarded as unorthodox or spurious; also : its body of adherents 4 : a system for the cure of disease based on dogma set forth by its promulgator <health cults> 5 a : great devotion to a person, idea, object, movement, or work (as a film or book); especially : such devotion regarded as a literary or intellectual fad b : a usually small group of people characterized by such devotion
OK, so number 5 would have to be your definition. well, there are those who are "highly devoted" to this stock, but that is probably less than 5% of CMKX stockholders. I spent $450 chump change dollars on this and haven't even read any of the recent PR's.
I AM NOT A CULTIST FOR SAM'S SAKE! hehe, ok Im done.
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posted
"OK, so number 5 would have to be your definition. well, there are those who are "highly devoted" to this stock, but that is probably less than 5% of CMKX stockholders. I spent $450 chump change dollars on this and haven't even read any of the recent PR's."
Street Shares: 148,367,514,339 Cert Shares: 16,221,036,660 Total Shares: 164,588,550,999 Signed Agreements: 2136
KOOL AID DRINKERS TO DATE AND MOMENT: 2136
2136 = 5% of 42,720 shareholders
AVG SHARES PER KOOL AID DRINKER = 77,054,565
42,720 SHAREHOLDERS X 77,054,565 AVG SHARES PER HOLDER = 3,291,771,017 SHARES ON THE MARKET.
THAT IS 3.291 TRILLION SHARES.
OK, I'LL AGREE THE MAJOR SHAREHOLDERS WERE THE FIRST TO JOIN THE ASSOCIATION. SO CUT THAT NUMBER IN HALF 1.7 TRILLION OUTSTANDING. ISN'T THAT REALLY CLOSE TO THE OS FOR THE CIM DIVY.
posted
Legal, Have you ever heard of the 80/20 rule? It's a rule in business that applies to many facets of an operation. Some examples are that 80% of your sales come from 20% of your customers, 80% of your inventory comes from 20% of your vendor base, so on and so forth. That rule is playing out almost to a "t" in this case and it's going to hold true. With an o/s of 700 billion, 80% of that amount will be held by 20% of the total investors. Using your shareholder figure of 42,720 from above, 20% of them, or, 8540 will own 562 billion shares. That equals about 65.7 million each. The 141 billion shares left will be held by the remaining 80% of the shareholders which averages out to 4.1 million each. Sounds just about right to me.
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posted
If you were working with all of the numbers Up, that might apply. If you were working in an honest and forthright business atmosphere, that might apply.
On the latter, I don't believe we are in such an atmosphere with the DTCC, MM's and Offshores. As to the former, remember that this association cannot include the shares held by insiders: Urban, Rendal, ED, Desormeau, family members, JV partners, and the pre-merger syndicate shareholders. These people are represented by Stocklein and cannot join the shareholders associaion. So my calculations are only estimates. We won't know the true numbers for a little while yet.
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quote:If you were working with all of the numbers Up, that might apply. If you were working in an honest and forthright business atmosphere, that might apply.
That's where we differ. The o/s is a known number, the public float is not. My contention is that insider holdings are virtually nil, I believe the o/s is the float for the most part. The numbers fit using that assumption.
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posted
I never want to interfere in a man's beliefs, but please go to the DEF14C, http://tinyurl.com/8dym4 filed 2/3/2003. Read the first exhibit. 96.5% of all shares, were locked up in Urban, Family, and Majority shareholders. Total 7.758 billion shares as Restricted shares. Seen any 144's? And that doesn't even begin to enumerate the restricted shares locked up in JV deals since then.
posted
legal, what makes you think 7.758 bil restricted shares and whatever went to JV deals comes anywhere close to a shade less that 800,000,000,000 shares? Those are I/O shs that are just under 800 bil. How do you think they got out there? All those shareholders and you think UC et al control CMKX with the Common Stock? NO WAY!!! I agree with Upside, and have said so in the past, that UC et al own a very small percentage of the Common Stock. UC has been dumping the company's common and probably his own as well. Just thinking about the probable number of shareholders is enough to convince anyone as to where the ownership of common rests.
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posted
legel, why do you & the rest of the cult only pick & choose which prs you believe & which ones you ignore?. did not a pr include a statement by your saintly roger glen stating UC gets no divys because he owns no shares?. at 1 time i did believe UC & family had around 150 billion shares, that changed yesterday after re-reading pr titles, thinking about how roger glen was paid or probably paid, that pr & the sudden a/s & in turn o/s increase right before divy date.
you know roger got $100K at least maybe $125K the o/s increase was 279 billion & i'm sure was held for divys. any inteligent person in the market knows that the divy split gives the o/s thus roger knew the pps was going to bottom out by the end of the divys thus out of that 279 billion i'm willing to bet he got 200 to 250 billion & UC got the rest letting him in on the divys. had there been any shares left of the a/s the increase would not have been needed. it also explains how 279 billion made it from a/s to o/s in 3 days. roger would have contacted a mm & sold his shares bulk just like any company does or financing company that trades shares for cash. mm's buy but at a discount. in this case probably .00005 per share as the pps was .0001 after the divys. you pride yourself for reasonable opinions. almost all penny stocks pay lawyers with shares, look at a bunch of S8's for proof. added together this equals reasonable opinion as much of this is fact mixed with a small amount knowledge of the penny stock market world. my new guess is that the float is over 600 billion & maybe over 650 billion.
-------------------- "keep your stick on the ice & your cup firmly in place"
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quote:I never want to interfere in a man's beliefs, but please go to the DEF14C, http://tinyurl.com/8dym4 filed 2/3/2003. Read the first exhibit. 96.5% of all shares, were locked up in Urban, Family, and Majority shareholders. Total 7.758 billion shares as Restricted shares. Seen any 144's? And that doesn't even begin to enumerate the restricted shares locked up in JV deals since then.
In the filing you reference, under Table 1, Beneficial Ownership, footnote 5, I see that the Casavant family, including Urban, owned 770 million shares which were Rule 144 shares. Under footnote 6, majority shareholders other than the Casavant family owned 7 billion which I don't believe were Rule 144's as there is no mention of it. Those shares are now more than likely in the public float.
As of the date of that filing, the Casavants held just over 10%. If the percentages remained constant throughout the last few years, they hold approximately 70 billion shares. That is a negligible amount.
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posted
Upside what have i told you about applying first grade math to CMKX!!!!!! you just going to screw things up by doing that. you know that complicated math stuff is over their heads & has nothing to do with CMKX. when will you learn son???
-------------------- "keep your stick on the ice & your cup firmly in place"
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Sorry I didn't respond earlier to your post. You wrote: "a CULT??
"that is the most absurd thing I have heard. not to pick a bone with anybody, but why label them a "cult"? there are lots of people that buy a stock because a family member gave them an idea to buy it."
I don't know about you, but when we here refer to the CMKX cult, the term fits very well with the fanaticism, dogma, devotion, blind faith, etc. of the people who own CMKX stock and refuse to look at the facts that outweigh reasons to own it.
There are others outside this thread/forum who have also labeled certain attitudes toward CMKX as a cult or cultish.
Somehow, religion got brought in by quite a few cult members.....probably because they were prone toward such fanaticism, devotion and blind faith. When it comes to trading stock, that is their problem and can result in serious losses. Stock trading has nothing to do with religion.
Futhermore, religion should not be introduced or forced into an environment where it has nothing to do with results.....such as stock trading, profits and losses, etc. It is inappropriate.
PS: By the way, the use of the term "CULT" had nothing to do with family members suggesting someone buy CMKX. It had to do with extremely rigid attitudes with no avenues open for objectivity.
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posted
By: abadgoodgirl 26 Apr 2005, 03:05 PM EDT Msg. 915512 of 915526 (This msg. is a reply to 915497 by stockshocked4.) Jump to msg. #
I talked to TRANSFER AGENT. She didn't have time to RUN the reports but said PROXIES WOULD not need to be sent out if there is anything to vote on as the company owns greater than 51%.
FACT FACT FACT
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No need to call. They have done several stock related /share structure transactions without including us via proxy. We should know that all along, they controlled >51%.
I have NEVER doubted that, particularly with the divvies as the main example. They gave us a portion of the divvies, but by controlling the vast majority of the OS, and I mean VAST MAJORITY, they simply gave themselves the divvies moreso. I'm dumb about CMKX, but even I figured that one out. hahaha.
quote:Futhermore, religion should not be introduced or forced into an environment where it has nothing to do with results.....such as stock trading, profits and losses, etc. It is inappropriate.
Forced, no, but if you're debating the merits of a stock with someone and that is their guiding reason for purchasing it, how can it not be introduced? I don't see anything wrong with that. What I would take umbrage with is someone telling me I was a heathen or a sinner for not holding the same viewpoint. That has happened here in the past and I agree, is wrong. But if someone truly believes that they were guided to this or any other stock by God, Jesus, etc., I don't see anything wrong with posting it or anyone else disagreeing with it.
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