Direct Registration System


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Direct Registration System

A system, sometimes referred to as DRS, that allows electronic direct registration of securities in an investor's name on the books for the transfer agent or issuer, and allows shares to be transferred between a transfer agent and broker electronically. DRS provides investors with a different way of holding their securities in certificate or street form. Under DRS, investors can elect to have their securities registered directly on the issuer?s records in book-entry form. An investor electing to hold a security in a DRS book-entry position will receive a statement from the issuer or its transfer agent verifying ownership of the security. The investor can subsequently transfer electronically the DRS book-entry position to their bank or broker/dealer.

Direct Registration System

An electronic system allowing a person or corporation to own shares without being issued stock certificates. In a direct registration system, the shareholder's information is maintained on a computer system. Transfer of shares maintained on a direct registration system may take place either through a transfer agent or the shareholder's ordinary broker.
References in periodicals archive ?
Registered holders of ADVENTRX common stock will receive a letter of transmittal from the Company's transfer agent, American Stock Transfer and Trust Company, with instructions for the exchange of their old stock certificates or the electronic adjustment of their holdings through the direct registration system, as applicable, and payment of cash in lieu of any fractional share.
The Aggregate Redemption Price for any shares of Preferred Stock held through Direct Registration System on the records of the Paying Agent (as defined below) will be paid directly to the registered holders thereof by the Paying Agent on the Redemption Date.
These new shares will be distributed on September 3, 2009 through the issuance of book-entry shares through AboveNet's transfer agent, American Stock Transfer & Trust Company, LLC, pursuant to the direct registration system (DRS).
The Company has elected to use the Direct Registration System (DRS) for the issuance of post-split shares.
On August 8, 2006, the Securities and Exchange Commission approved a new NASDAQ listing standard which requires listed companies to be eligible for participation in the Direct Registration System ("DRS"), which is currently administered by the Depository Trust Company.
Each shareholder of Omnicom Group common stock as of the record date will receive additional shares by the issuance of book-entry shares through Omnicom's transfer agent, Mellon Investor Services, pursuant to the direct registration system (DRS) operated by The Depository Trust Company (DTC).
Winn- Dixie also has elected to use the Direct Registration System to record ownership interests in the New Common Stock.
The ability to issue shares in uncertificated form will allow for the direct listing and transfer of shares in the Direct Registration System, a prerequisite for listing on a National Stock Exchange.
Stock certificates will not be issued -- holders will be credited in book-entry form through the Direct Registration System, which will be administered by the transfer agent.
New shareholder services offerings: direct registration system and account activity statement