stock ownership records??

[familyguy1988]

So a stock trades on NYSE for example, suppose I sold my share via my bank which is a dealer on the floor, and someone else purchased that stock, where does the ownership change get saved, ie who controls the database NYSE?
The follow up question is, if that same stock was traded on ECN, how is that record then update, I assume there is a central database with name of all shareholders so that dividends can be paid…
I am interested in this “back office” stuff, if someone can point me to a reading that would also be great.

 

[onlysimon]

it’s not actually so dividends can be paid. that will happen with a custody account with your bank and the bank holding the shares.
it’s for stuff like sending out the annual report in deadtree format.
i recommend you stay clear of this stuff, it’s at the very bottom of the foodchain & is getting done in india/poland these days.

 

[watson7tyler]

How often have you heard people say that investing in stocks and shares is like gambling? The truth is that investing in stocks is gambling in the same way as doing any business is gambling because there is always an element of risk in every business.

 

[familyguy1988]

Yeh I am just interested in a simple question, who controls the database where ownership is refelected. How is an ECN able to offer a stock listen on NYSE, when the sale takes place how do they update the ownership…
How can a stock be purchased in one stock market and sold in another (in the case of dual listing)…
I disagree on the food chain part, I am not look to make a living out of it, but would help understand how markets work…