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 ?
Computershare Trust Company of Canada, the Bank s transfer agent, will send to registered shareholders an advice under the Direct Registration System indicating the number of additional shares that they received as a result of the share dividend.
TELUS shareholders, with or without a physical share certificate, do not need to take any action, as the company has moved to a simple Direct Registration System (DRS).
Also, the Aggregate Redemption Price for preferred stock held through Direct Registration System on the records of the Paying Agent Computershare Shareowner Services will be paid directly to the registered holders by the same, on the redemption date.
The company said that it will use the direct registration system, or DRS, to electronically register its common shares issued pursuant to the stock split, rather than issuing paper certificates.