Siebert Financial

Sources - 13

Every claim above cites one of these, or states the reasoning that derived it. The quote is frozen at the date it was read: a link can rot, and an agent fetch returns a reading of a page rather than the page. Backs counts the whole claim ledger, so it can name a claim this page does not surface.

1. S01primarycompany filing2026-03-30
   Siebert Financial Corp. Form 10-K, fiscal year ended 31 December 2025 (filed 2026-03-30)
   Item 1 business description and the subsidiary list; the Competition section, which names classes only; risk factors including family control and the limited float; the segment revenue and expense tables for 2025 and 2024; the client account metrics; the credit agreements and their covenants; the shelf registration and at-the-market agreement; the related-party note; the net capital discussion.
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2. S02primarycompany filing2026-08-11
   Siebert Financial Corp. Form 10-Q, quarter ended 30 June 2026 (filed 2026-08-11)
   The balance sheet, income statement and statements of changes in equity for the quarter and half; the revenue disaggregation note splitting stock locate services from stock rebate revenue; the segment tables; MSCO's net capital at both dates; the bank covenants; the arbitration settlement; the tZERO, Green Pier, FusionIQ and Arqitech arrangements; the client account metrics; confirmation that no shares were sold under the at-the-market agreement.
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3. S03primaryregulator2023-11-03
   SEC, Reporting of Securities Loans (Rule 10c-1a adopting release), Federal Register, 3 November 2023 U.S. Securities and Exchange Commission
   The size of the pond Siebert's largest revenue line sells into, the average United States equity lending fee, the Commission's own estimate of annual lending fees collected, its finding that the market is dominated by a few large lending programs run by custodian banks, and the median utilisation of lendable supply.

   the estimated value of securities on loan globally was $3.1 trillion at the end of September 2021 ... U.S. securities continue to account for the majority of global securities on loan, accounting for 58 percent of global securities on loan as of the end of September 2021 ... for U.S. equities the OFR Pilot Survey reports the average lending fee across the three days surveyed was approximately 33 basis points (bps) ... multiplying this estimate by two to, conservatively, account for fees collected in the Customer market yields an estimate of $5.4 billion in lending fees collected annually ... the market for lending services is likely dominated by a few large lending programs, including those run by the large custodian banks ... for most stocks the lending supply significantly outstrips demand with median utilization rates of approximately 12%

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4. S04primaryregulator2026-08
   FINRA Margin Statistics under Rule 4521(d), monthly series to July 2026 FINRA
   The industry-wide rate of the leverage cycle Siebert's securities-finance business rides, collected by the regulator from every member firm carrying margin accounts rather than estimated by a vendor.

   Month/Year Debit Balances in Customers' Securities Margin Accounts Free Credit Balances in Customers' Cash Accounts Free Credit Balances in Customers' Securities Margin Accounts Jul-26 1,417,225 205,132 217,305 ... Jul-25 1,022,548 194,712 186,672

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5. S05primarycompany filing2026-02-27
   Interactive Brokers Group, Inc. Form 10-K, fiscal year ended 31 December 2025 Interactive Brokers Group, Inc.
   A competitor's own statement that it gives customers the shortable-availability search at no cost, and its Securities Lending Dashboard - the external evidence that Siebert's largest fee is a free feature somewhere else.
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6. S06primarycompany filing2026-02-18
   Robinhood Markets, Inc. Form 10-K, fiscal year ended 31 December 2025 Robinhood Markets, Inc.
   A competitor's own record of launching short selling in the fourth quarter of 2025 and of running a fully-paid securities lending programme - the two sides of Siebert's securities-finance business, attacked from a zero-commission platform.
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7. S07primarycompany filing2026-02-19
   State Street Corporation Form 10-K, fiscal year ended 31 December 2025 State Street Corporation
   A custodian bank's own description of agency lending and a principal prime-services book, and the growth in its securities finance revenue - what the large end of Siebert's market looks like from inside it.
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8. S08primarycompany filing2026-08-28
   Schedule 13D/A (Amendment 31), Gebbia reporting group, filed 28 August 2026 Gloria E. Gebbia and the Gebbia reporting group
   The family group's aggregate holding of 17,060,603 shares, 42% of the class, the per-person breakdown, and the statement that the amendment reports gifts out of the Gebbia Living Trust and one family purchase.
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9. S09secondaryvendor data2026-09-08
   SIEB research pack, frozen 2026-09-08
   Price, market value, the twenty-day and 252-day returns, the twenty-day average high-to-low range, the 252-day range position, short interest from FINRA, the insider filing window, the measured reactions of eight news items, and the empty analyst-estimate and consensus fields.
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10. S10primarycompany release2026-08-18
    Unusual Whales and Siebert Financial Announce Strategic Partnership to Launch New Series of ETFs (press release, 18 August 2026)
    The announcement that moved the shares hardest, and what it does not say: no fee, no revenue share, no volume, no term, no launch date, and no fund in existence.

    Additional information regarding individual ETF strategies, regulatory filings and anticipated launch dates will be announced separately.

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11. S11primarycompany release2026-08-20
    Siebert Partners with tZERO to Give Access to Digital Securities to Its Customers (press release, 20 August 2026)
    The second announcement of the rally, and the same absence: custody and clearing infrastructure described, one tokenised gold security named, and no fee, volume or term disclosed.

    Our relationship with tZERO gives us the infrastructure to enter this market while building for where financial markets are headed.

    read, but no claim rests on it
12. S12primaryregulator2026-09-08
    FINRA, Securities Lending and Transparency Engine (SLATE) programme page FINRA
    When the securities-lending market gets a public tape - the date at which locate and borrow pricing stops being private information, and therefore how long the opacity Siebert's fee sits inside is protected.

    The Securities and Exchange Commission has granted an extension of the SLATE launch date until September 28, 2028.

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13. S13primarycompany filing2026-09-25
    Siebert Financial Corp. Form 8-K, Item 5.02, event of 22 September 2026 (filed 2026-09-25)
    Gloria E. Gebbia's resignation from the board and John M. Gebbia's appointment to fill the seat; the signature block naming Andrew H. Reich as principal executive, financial and accounting officer.
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