Pro lesson, preview locked
Unlock the full video and walkthrough with FinanceFlow Pro.
5:00Custody: Where Your Shares Actually Live
Your broker app says you own 100 Apple shares. Apple's own register has never heard of you. Both statements are true, and the gap between them is one of the most important fictions in modern markets.
When you "buy a share", you almost never get a paper certificate and your name almost never lands on the company's register. Instead you sit at the bottom of a chain of intermediaries. Real ownership is recorded in book-entry form at a Central Securities Depository (CSD), and your claim is a record on your broker's books that points up that chain. This is the system that lets trillions of dollars change hands daily without anyone moving a single physical document.
Unlock the full lesson with Pro
The complete walkthrough, rail map and quiz for Custody: Where Your Shares Actually Live, plus every Pro lesson in the library.