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Create 2021-07-25-NSCC-2021-010-Overview-Part-II.md
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NSCC-2021-010 Part 2, Are They Getting Rid of FTDs for Good?
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============================================================
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| [u/npham54](https://www.reddit.com/user/npham54/) | [Reddit](https://www.reddit.com/r/Superstonk/comments/or8dry/nscc2021010_part_2_are_they_getting_rid_of_ftds/) |
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---
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[DD 👨🔬](https://www.reddit.com/r/Superstonk/search?q=flair_name%3A%22DD%20%F0%9F%91%A8%E2%80%8D%F0%9F%94%AC%22&restrict_sr=1)
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***** I am NOT a financial advisor & this is NOT financial advice. Take everything you read, see, or hear with a grain of salt. Verify it ALL with your own DD & come up with your own conclusions! *****
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TL;DR - With NSCC-2021-010 the DTCC is now the bouncer at their own private little REPO/RRP system they built out of nowhere. All the rules that were passed before was balled up and thrown into this pretty little package to protect this shiny new system and it's soon to be VIP members. You can't enter unless you a VIP member and you can't be a VIP member unless you meet the minimum requirements. Not only are there requirements, but you gonna get RANKED on top of that too.
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Get a shitty ranking, you gotta pay more to play in that system.
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Once you're inside, if you try to do some stupid shit, they're gonna stop you dead cold, strip you butt naked, and cast your dumbass out the back door!
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But to even make it thru the front door even after you become a VIP member, you gotta leave your wallet at the door. We don't use your crooked dollars in this system you got from God knows where (another crooked bank). You use OUR in-house funds instead.
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Honestly read the DD, it's not very complicated. I promise it's easy to understand if you've been following along all these months.
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------------------------------------------------
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I posted this in the AMCStock subReddit, but it applies every bit just as much here. Enjoy my fellow APES.
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This is an update to my earlier post.
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<https://www.reddit.com/r/amcstock/comments/or2wdx/whats_that_new_rule_everyone_is_talking_about_now/>
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Need to add some good news about [NSCC-2021-010](https://www.dtcc.com/-/media/Files/Downloads/legal/rule-filings/2021/NSCC/SR-NSCC-2021-010.pdf) & [NSCC-2021-803](https://www.dtcc.com/-/media/Files/Downloads/legal/rule-filings/2021/NSCC/SR-NSCC-2021-803.pdf) system/rule combo.
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In this new system, members won't have the ability to create FTDs anymore. Since the system will hold the securities as collateral, they aren't going to have the ability to rehypothecate the shares anymore!
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There is a specific reference to exactly this on page 4
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<https://www.dtcc.com/-/media/Files/Downloads/legal/rule-filings/2021/NSCC/SR-NSCC-2021-010.pdf>
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[](https://preview.redd.it/262wuxeusbd71.png?width=3844&format=png&auto=webp&s=6c2c68b0120f9c716b8a21385acf9cefd10d746a)
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How do they stop it? Well when they want money, they need to hand over the shares and get $100 per share.
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Then the next morning, it needs to be reversed and interest will be paid at a future determined time according to the agreement.
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Like I said, this is pretty much exactly what happens on the daily with the FEDs and the REPO/RRP market!
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As the securities are being held by the DTCC while the money has been lent out, the HF can't rehypothecate the shares any further as they literally need to hand dem bitches the fuck over!
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[](https://preview.redd.it/34rvk1bwsbd71.png?width=593&format=png&auto=webp&s=54fb81ef3978be3e2ff32b739244a03ada142a46)
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LIKE BITCH LEAVE YOUR GUN AT THE DOOR! THIS IS A FAIR MOTHERFUCKING MARKETPLACE!
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The DTCC doesn't want the FEDs to earn that money, they can line their own pockets with it while hopefully trying to keep the market a more fair and transparent place.
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Remember the rules passed back not too long ago? Rehypothecation, daily minimum SLD requirements. Those rules, were all rolled up and thrown together into one big new system that will help STOP the fraud that they've been committing. This system theoretically CLOSES those loopholes for good.
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******Speculation at this point forward*****
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And this is the DTCC's message to all of it's members:
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"You either join this system and make money honestly with the rest of the good members, or you sit and you starve while this is the new system standard!"
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Yes, it's that fucking bold. That's this system right here.
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This is their way to protect the system, all of it's honest traders, without having to make a whole barrage of new rules while still allowing the old ones to be open.
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We know that their shennanigans haven't stopped. It has slowed down and we witness this in the volume. They are literally at the end of their fucking rope. They can't keep it up much longer.
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The rules have squeezed them hard and this is the guillotine at the end of that squeeze. That's gonna be our motherfucking MOASS!
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The minimum requirements to be a member isn't tiny and made easy for any ol Joe Shmoe off the street to join. You gotta be QUALIFIED to join this motha! They don't want anymore shit bags into the club.
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Damn, I gotta say I'm a little fucking impressed.
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[](https://preview.redd.it/tlhjcarxsbd71.png?width=760&format=png&auto=webp&s=eaac85ba7e986bcd657838a1296422a8cd094170)
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We are starting to see this as everyone is unraveling the text. This is the culmination of that unraveling.
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You don't have to believe me. You can look at the excitement in everyone's eyes as it glistens over this majestic document. Could this truly be the one ring to rule them all?
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[](https://preview.redd.it/6jdlvyrysbd71.png?width=474&format=png&auto=webp&s=d14486e47f301ba08c57d76edfec7e4bd363b635)
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I dunno children, patience is of virtue. We shall have to wait and see how this all plays out. The link to the rules are up there. Please by all means, go ahead and verify this yourself. Maybe you'll see it as something different.
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Man, I'm FUCKING JACKED! You don't have to feel the same as me. I hope whatever it is you feel, it's all your own.
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TO THE MOON APES!
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*****EDIT*****
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[](https://preview.redd.it/bhiormqn2cd71.png?width=1502&format=png&auto=webp&s=e43952eaf1bdb95a10abd7d45360d525f8a44140)
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No date, need to watch to see when it lands on the Fed Reg here:
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<https://www.federalregister.gov/agencies/securities-and-exchange-commission>
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