Post by fastwalker on Oct 23, 2004 0:24:39 GMT -5
:)Etrade & Ameritrade, cusip #'s and Amex on Monday
Any comments?
y: xphantom2
22 Oct 2004, 07:22 PM EDT
Msg. 623576 of 623776
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Re: Etrade and Ameritrade customers, cusip #'s and Amex on Monday.
There has been much discussion the past few days regarding information that has appeared in accounts of both Ameritrade and Etrade customers alike.
Etrade customers have disclosed information that would lead them to believe a "Tender Offer" is coming or "Amex" reporting by Monday. Well this afternoon I uncovered some information that may dissapoint a few for the time being.
First off, the CMKX Diamonds inc. Casavant Restricted N/A cusip # currently appearing in Ameritrade customer accounts as 125809996 is correct but somewhat misleading and here is why:
The 125809 portion of the cusip is correct. However, the 996 ending three numbers, are simply part of Ameritrade's
in-house accounting designate for CMKX "Spinoff" CMKM Casavant Diamonds, Inc. Casavant Restricted N/A.
The same applies for Etrade customers. The information that currently apppears as "Tender Offer" or "Amex" is simply an in-house Book Entry Journal designation applied to this particular entity for the time being.
Why? Because the DTC charges Brokerages for any new journal designations and thus Ameritrade and Etrade use what is already in place until "Official" information is given to them. Saves them money and is much easier for internal accounting purposes.
If you question this I understand, however, I also called the cusip office in New York this afternoon as well. They confirmed the first 6 numbers of 125809 are assigned to Casavant Mining, however, they had no idea what the 996 numbers referred to.
I hope this information will help others to better understand what may be going on at the present time, as it pertains at least to those who may hold Ameritrade or Etrade accounts.
In my opinion, we will not see CIM appear on the AMEX on Monday. At least in the traditional sense. Sorry to dissapoint those who were looking forward to that on Monday.
Good Luck to all.
www.ragingbull.lycos.com/mboard/boards.cgi?board=CMKX&read=623576
Any comments?
y: xphantom2
22 Oct 2004, 07:22 PM EDT
Msg. 623576 of 623776
Jump to msg. #
Re: Etrade and Ameritrade customers, cusip #'s and Amex on Monday.
There has been much discussion the past few days regarding information that has appeared in accounts of both Ameritrade and Etrade customers alike.
Etrade customers have disclosed information that would lead them to believe a "Tender Offer" is coming or "Amex" reporting by Monday. Well this afternoon I uncovered some information that may dissapoint a few for the time being.
First off, the CMKX Diamonds inc. Casavant Restricted N/A cusip # currently appearing in Ameritrade customer accounts as 125809996 is correct but somewhat misleading and here is why:
The 125809 portion of the cusip is correct. However, the 996 ending three numbers, are simply part of Ameritrade's
in-house accounting designate for CMKX "Spinoff" CMKM Casavant Diamonds, Inc. Casavant Restricted N/A.
The same applies for Etrade customers. The information that currently apppears as "Tender Offer" or "Amex" is simply an in-house Book Entry Journal designation applied to this particular entity for the time being.
Why? Because the DTC charges Brokerages for any new journal designations and thus Ameritrade and Etrade use what is already in place until "Official" information is given to them. Saves them money and is much easier for internal accounting purposes.
If you question this I understand, however, I also called the cusip office in New York this afternoon as well. They confirmed the first 6 numbers of 125809 are assigned to Casavant Mining, however, they had no idea what the 996 numbers referred to.
I hope this information will help others to better understand what may be going on at the present time, as it pertains at least to those who may hold Ameritrade or Etrade accounts.
In my opinion, we will not see CIM appear on the AMEX on Monday. At least in the traditional sense. Sorry to dissapoint those who were looking forward to that on Monday.
Good Luck to all.
www.ragingbull.lycos.com/mboard/boards.cgi?board=CMKX&read=623576
