4 ms·
If you "own" one share, or 100, there are a couple of layers of other people who "truly own" the share, and you have a contract with them. You can look up Cede
by dmurray 6y ago
If you "own" one share, or 100, there are a couple of layers of other people who "truly own" the share, and you have a contract with them. You can look up Cede & Co and the DTCC.
Your arrangement with your broker for fractional shares is similar, though not identical. They're not just selling you a derivative product that they may optionally hedge with BRK/A.