Anyone ever heard of this. Supposedly no one owns any stock in any company but they hold all stocks for all companies in NYSE, NASDAQ etc... idk haven't seen it posted here so I thought I'd get the ball rolling on that for some digging
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Wiki- Cede and Company (also known as Cede and Co. or Cede & Co.) is a specialist United States financial institution that processes transfers of stock certificates on behalf of Depository Trust Company, the central securities depository used by the United States National Market System, which includes the New York Stock Exchange, and Nasdaq. Cede and Company is a shorthand for the phrase 'certificate depository.' Appropriately, the word 'cede' means to 'give up (power or territory)' because investors give up their stock and companies give up their shareholders to an intermediary.
Cede technically owns most of the publicly issued stock in the United States. Thus, most investors do not themselves hold direct property rights in stock, but rather have contractual rights that are part of a chain of contractual rights involving Cede. Securities held at Depository Trust Company are registered in its nominee name, Cede & Co., and recorded on its books in the name of the brokerage firm through which they were purchased; on the brokerage firm's books they are assigned to the accounts of their beneficial owners.
Cede owns 83% of all issued stocks in the United States. The other 17% of all issued stocks is owned by directly registered holders through the direct registration system.
17% is DRS it says. Of course it’s 17.
Came to post this from Wikipedia (if you can trust Wiki)
It's generally known here, and becoming pretty well understood by anyone with GME/DJT/BBBY/AMC holdings. Superstonk and theppshow are definitely the communities to sync up with respect to understanding corporate structure.
This site has a pretty good high level overview.
https://www.drsgme.org/
What they talk about a lot on superstonk
We are all “beneficial owners” meaning not actual owners.
"Did you know that every share of every stock is actually held by a private company called DTCC?
And it turns out that company was at the heart of what happened and is still going on with GME.
Conflicts of interest and SROs everywhere.
Probably nothing… 🤔"
https://twitter.com/Cancelcloco/status/1740515711775346762?t=0CFO13KcJBPa2J7vXhGrVQ&s=19
I've been hearing about it for years on the stonk boards.
We don't own our stocks unless they are held in by a transfer agent.
You don't have to dig,it's all in the supperstonk library of DD.
https://fliphtml5.com/bookcase/kosyg
So do we do a search on "Cede & Company" to find out what you are talking about because I haven't a clue as I've never heard of such a thing.
The Depository Trust Company (DTC) is a New York corporation that performs the functions of a central securities depository as part of the US National Market System. The headquarters for The Depository Trust & Clearing Corporation, which includes DTC, are located at: 55 Water Street, 10041-0099, New York
Watch the water,
Interesting.
yeah that's the company name apparently.
I'm going to do some research. I wanna know more.
https://www.reddit.com/r/Superstonk/comments/mvvspq/cede_co_the_secret_trilliondollar_company_that/