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CHAPTERS
0:00 Cede and Firm holds $74 trillion
1:14 DTCC $100.3 trillion custody determine
2:05 The 1968 Wall Road paperwork disaster
6:54 UCC 8-503 and safety entitlements
10:32 Professional rata property curiosity defined
12:32 Holders of document in each 10-Ok
13:40 SIPC $500,000 per buyer restrict
16:40 Money account versus margin account
17:39 January 2021 clearing collateral demand
20:54 Direct registration prices and tradeoffs
One firm in Delaware is the registered holder of $74.1 trillion of American inventory, and it’s not you. This video reads the paperwork: how the 1968 disaster put Cede & Co on the books, what UCC 8-503 really offers you (a professional rata safety entitlement in a pool, not share quantity 4412), why each 10-Ok’s holders-of-record line is so small, what SIPC’s $500,000 does and doesn’t cowl, the distinction between a money account and a margin account, what the January 2021 clearing demand uncovered, and what direct registration actually prices.
SOURCES — each doc and listening to learn on digital camera:
Michael Bodson, CEO DTCC, Home Monetary Providers Committee, Could 6 2021:
Vlad Tenev, CEO Robinhood, Home Monetary Providers Committee, February 18 2021:
UCC Article 8, Part 8-503:
SEC Rule 15c3-3:
SIPC, what it protects:
Investor.gov, Direct Registration System (DRS):
#StreetName #CedeAndCo #SIPC
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