| NOUN | possession | letter security | a stock or bond that is not registered / registered with the Securities and Exchange Commission and cannot be sold in the public market |
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| Meaning | A stock or bond that is not registered / registered with the Securities and Exchange Commission and cannot be sold in the public market. | |
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| Narrower | letter bond | A bond that has not been registered / registered with the Securities and Exchange Commission and cannot be sold to the general public |
| letter stock | Stock that has not been registered / registered with the Securities and Exchange Commission and cannot be sold to the general public | |
| Broader | security, certificate | A formal declaration that documents a fact of relevance to finance and investment |
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