Yes that what you said - also the shares in your account are backed by a certificate which is a financial instrument. Money The brokers have assured pretty much everyone what is in your account was obtained for your benefit. You can do with it what you will. No statute of limitations apply on when one can withdrawal a financial instrument. 1 day 10 days 10 years. Passing the buck to the dtcc in no way relieves the brokers of their custodial responsibilities of stocks held for their clients.