, the National Securities Clearing Corporation and the Fixed Income Clearing Corporation oversee all stock trading in the US. And these all come under the umbrella company of Cede, which was founded in 1996. For all the latest news, politics, sports, and showbiz from the USA, go to The Mirror US The Depository Trust Company (DTC) is a private bank for securities and a DTCC subsidiary. Every other US financial organisation, banker and brokerage house is obliged to secure membership with DTC. The DTC is entrusted with national responsibility, much like the Federal Reserve, and processes all stock and paper securities for every US bank and brokerage house. Because it physically holds the majority of stock and bond certificates in their name, the DTC has absolute control over every paper asset transaction in the US. Few people, then, genuinely hold stock ownership certificates as most have their brokers do it for them. The DTCC does not often speak in public but DTC's Jim McNeff spoke to financial journalist Anthony Wayne and explained how infallib){kind=link}
Some people are convinced they have found the ‘Holy Grail’ of the conspiracy world in a small financial organisation that owns the vast majority of all stocks in the US
Ask most people who ‘owns’ the US and it is unlikely that they will cite one tiny New York-based company.
Yet there are those who are convinced that a financial institution called Cede and Company holds all the real power in the country and is the one really running it. The organisation reportedly has assets worth an astonishing $54trillion and it has been able to acquire such figures due to owning 83% of all issued stocks in the US.
This happens because private investors don’t actually own the stock they believe they do. Instead, they have contractual rights that are part of a convoluted chain of rights, which all end up at Cede and Company.
It breaks down like this: a number of interconnected services such as The Depository Trust & Clearing Corporation (DTCC), the National Securities Clearing Corporation and the Fixed Income Clearing Corporation oversee all stock trading in the US. And these all come under the umbrella company of Cede, which was founded in 1996.