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The origins of the CUSIP system go back to 1964, when the financial markets were dealing with what was known as the securities settlement paper crunch on Wall Street. [5] [6] [7] At that time, increased trading volumes of equity securities, which were settled by the exchange of paper stock certificates, caused a backlog in clearing and settlement activities.
The first response was to hold all paper stock certificates in one centralized location, and automate the process by keeping electronic records of all certificates and securities clearing and settlement (changes of ownership and other securities transactions). [8] One problem was state laws requiring brokers to deliver certificates to investors.
It’s also easier to transfer ownership of stock shares via electronic certificates vs. physical share certificates. Electronic stock certificates are held by the Central Securities Depository ...
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Certificate for a share in Kennet and Avon Canal Navigation, Great Britain, 1808. In corporate law, a stock certificate (also known as certificate of stock or share certificate) is a legal document that certifies the legal interest (a bundle of several legal rights) of ownership of a specific number of shares (or, under Article 8 of the Uniform Commercial Code in the United States, a ...
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Scripophily is the study and collection of stock and bond certificates. [a] A specialized field of numismatics, scripophily has developed as an area of collecting because of the inherent beauty of certain historical certificates, and because of interest in the historical context of many of the documents.