Looks like I used the wrong term there, sorry. I was referring to Cede & Co, and in the moment assumed they could be considered a clearing house. It is technically called a certificate depository, sorry for the confusion there.
Cede & Co technically owns most of the stock certificates today [1]. If I buy a share of stock I end up actually owning an IOU for a stock certificate.
You can actually confirm this yourself if you own any stock. Call the broker that manages your account and ask who's name is on the stock certificate. It definitely isn't your name. You'll likely get confused or unclear answers, but if you're persistent enough you will indeed find that the certificate is almost certainly in the name of Cede & Co and there is no certificate in your name, likely no share identifier assigned to you either. You just own the promise to a share, which ultimately isn't a problem unless something massive breaks (at which point we have problems anyway).
Cede & Co technically owns most of the stock certificates today [1]. If I buy a share of stock I end up actually owning an IOU for a stock certificate.
You can actually confirm this yourself if you own any stock. Call the broker that manages your account and ask who's name is on the stock certificate. It definitely isn't your name. You'll likely get confused or unclear answers, but if you're persistent enough you will indeed find that the certificate is almost certainly in the name of Cede & Co and there is no certificate in your name, likely no share identifier assigned to you either. You just own the promise to a share, which ultimately isn't a problem unless something massive breaks (at which point we have problems anyway).
[1] https://en.m.wikipedia.org/wiki/Cede_and_Company