Business and Personal Finance Dictionary

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• BOOK-ENTRY SECURITY
  
  Book-entry securities are electronic versions of stock and bond certificates. Instead of printing a certificate and mailing it to you, the issuing company records the details of your purchase in its computer files. When you sell the security, the records are updated, deleting you as an owner and adding the purchaser. That means you don't have to keep track of paper documents, and they can't be lost or stolen. The Depository Trust & Clearing Corporation (DTCC) acts as a clearinghouse for book-entry securities.
  
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