Yup your right they just loan them from one firm to another What perfect timing for a stock loan note the "date" lol <A HREF="http://www.dtc.org/impNtc/com/com_8139.pdf" target="_blank">http://www.dtc.org/impNtc/com/com_8139.pdf</A> NF clearing is now part of "Fidelity investments" <A HREF="http://www.dtcc.com/downloads/legal/imp_notices/2006/nscc/a6190.pdf" target="_blank">http://www.dtcc.com/downloads/legal/imp_notices/2006/nscc/a6190.pdf</A> <A HREF="http://www.bizjournals.com/milwaukee/stories/2005/03/21/daily38.html" target="_blank">http://www.bizjournals.com/milwaukee/stories/2005/03/21/daily38.html</A> <A HREF="http://philadelphia.bizjournals.com/philadelphia/stories/2006/03/27/daily30.html" target="_blank">http://philadelphia.bizjournals.com/philadelphia/stories/2006/03/27/daily30.html</A>