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Does NSCCs stock borrow program create “counterfeit shares?

April 26, 2017borrow counterfeit create nscc program Shares stock

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Does NSCCs stock borrow program create “counterfeit shares?

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NSCC’s stock borrow program, as approved by the Commission, permits NSCC to borrow securities from its participants for the purpose of completing settlements only if participants have made those securities available to NSCC for this purpose and those securities are on deposit in the participant’s account at DTC.