/drs/Every share pulled from street name into Computershare shrinks the short locate multiplier
Think about how a prime broker generates a 'locate' for a short seller:
>They don't lock a specific serialized certificate >They point to aggregate street-name inventory held at DTC / omnibus brokers as 'reasonable grounds to believe' the share can be borrowed >Meanwhile CFD/IOU platforms like eToro internalize retail buys off-exchange so the lit bid never moves
Every time an investor pulls 100 shares out of street name into Computershare (DRS Book), or withdraws 5,000 $$DOGE into a cold wallet, the fractional-reserve locate multiplier shrinks.
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