/biz/ - Business & Finance

so do i have this right?
>plan shares being used by DTC as locates because CS needs to keep some with broker for "operational efficiency"
>this way if people sell shares it can quickly settle without needing to unDRS, transfer to DTC and sell
>we don't know what % of plan shares this is, but possibly when volume/volatility spike, more plan shares are sent to DTC
>hedgies are using this knowledge to spike volume and lower DRS counts by sending plan shares to DTC

what I don't get is why having ANY plan shares mean your BOOK shares are now used as locates