Jul. 14 at 1:05 AM
$ITRM
No, you are screwed. That’s exactly how global securities work. One obscure provision of Irish corporate law instantly overrides DTC, the SEC, FINRA, every prime broker, every custodian, and thirty years of electronic settlement. The Irish High Court is expected to personally log into every broker on Earth, unwind a billion shares of settled trades after 3/27, refund commissions, reverse taxes, rewrite DTC records, and explain to BlackRock that the Companies Act 2014 has spoken.
Right after Ireland finishes rewriting gravity, it’ll rewrite the global securities settlement system. DTC should be receiving the carrier pigeon any minute now.