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These FAQs apply to State Stox (NY) Inc., which makes a dealer market in securities issued by New York companies.
Please reach State Stox (NY) Inc ("SSNY") at support@statestox-ny.org if you cannot find an answer to your question.
State Stox (NY) Inc. plans to start trading in Summer 2023.
No. Only New York residents can open an account.
No. Accounts are not bank deposits. Securities purchased from State Stox can lose value. There is no account insurance.
Some of the securities traded by SSNY may be registered with the SEC but SSNY also trades securities that are exempt from registration with SEC. Before investing, check the securities profile which includes information about the issuer and the securities.
SSNY is a registered broker-dealer that is regulated by the Investor Protection Bureau, a unit of the Office of The Attorney General of The State New York.
All cash and securities are held by M&T Bank as custodian. The custodian ensures the securities will not be lost or stolen.
SSNY is a dealer that provides liquidity to securities issued by New York companies. SSNY is not a stock exchange.
No. SSNY does not allow investors to short any securities that it trades.
No. SSNY does not allow purchase on margin and does not lend with securities as collateral. Private lenders may provide a loan against these securities. Customers can only purchase securities if they have a sufficiently funded account.
All trades settle in one day.
Brokercheck is operated by FINRA, a self-regulatory organization ("SRO"). SRO's do not register broker-dealers. SROs are a private membership organizations that have rules for members. State Stox is not a member of FINRA.
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