Axel Merk: DTCC holds most U.S. traded securities due to historical structure

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DTCC owns U.S. listed securities

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Andrey Mastykin

24.03.2026

Axel Merk: DTCC holds most U.S. traded securities due to historical structure — DTCC owns U.S. listed securities

Axel Merk points to the significant role of DTCC in the U.S. financial system, emphasizing that it effectively owns nearly all publicly traded securities in the country due to a historical technicality.

He observes that while there are established processes ensuring beneficial owners can participate, most investors remain unaware of these underlying mechanics.

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Merk has previously called for a shift back to the corridor system, highlighting that efforts to shrink the Federal Reserve's balance sheet face resistance from policymakers, according to a recent article. He has also raised questions about the reliability of labor market decline forecasts as experts struggle with predicting payroll trends, as noted in a separate report. These observations build on Merk’s broader scrutiny of institutional mechanics and economic forecasting.

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.

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