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Re: gqmixmaster post# 14270

Tuesday, 06/19/2007 3:27:02 PM

Tuesday, June 19, 2007 3:27:02 PM

Post# of 51429
They are owned by the buyers because they exist within the trading accounts. The brokerage acts as an agent to acquire shares given fees, etc. This is in the form of a contract so, ultimately the brokerage is backing up the ownership by the account holder. There is the electronic paper trail so to speak. Now if the brokerage does not actually hold those shares, they will be responsible to go on the open market to get them. Those shares can be bought or sold for cash at any time the market is open, otherwise they sit as assets and are almost liquid. It is any brokerages or MMs that have the problems, not investors.
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