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A comment on Counterfeiting Stock – Explaining illegal naked shorting and stock manipulation. Parent comment

Re:Counterfeiting Stock – Explaining illegal naked shorting ... by Taniwha on Monday February 01, 2021 @05:10AM (#25987303)
Of course that's a fiction, almost all stock in the US is owned by Cede & Co

https://en.wikipedia.org/wiki/Cede_and_Company

All you own are assignments of that stock

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Re:Counterfeiting Stock – Explaining illegal naked shorting ... by ClumsyPilot on Monday February 01, 2021 @06:43AM (#25987802)
I don't thinks this interpretation of 'owns'is accurate, but if it were, it would be even worse than the original allegation!
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Re:Counterfeiting Stock – Explaining illegal naked shorting ... by Taniwha on Monday February 01, 2021 @04:13PM (#25994041)
I believe that apart from legacy certificates in a lockbox under grandma's bed (and non-traded private classes of stock) it is actually true.

What DTC trades are assignments of stock held by Cede corp, what you own are assignments of assignments held by brokers - it's how you take physical stock certificates and start trading them electronically (back in the 60s)

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