直接注册制度

The 直接注册制度 (DRS) enables investors to elect to hold their assets in book entry form directly with the issuer by leveraging 直接转矩’s connectivity with FAST转移剂. 通过直接转矩的DRS服务, assets can be electronically transferred to and from the transfer agent and broker/dealer to easily move shares in and out of DRS.

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  DRS provides investors with an alternative to holding their securities in certificate or “street” form. DRS下, investors can elect to have their securities registered directly on the issuer’s records in book-entry form. DRS的, the investor does not receive a physical certificate, instead receiving periodic account statements (at least yearly) from the transfer agent or issuer evidencing holdings. Dividend/interest payments, proxy materials, annual reports, 等., are mailed from the issuer or its transfer agent directly to the investor.

• 谁可以使用该服务

  Issuers that act as their own transfer agent, transfer agents and 直接转矩 participants can use the service. Issuers and transfer agents must participate in 直接转矩’s Fast Automated Securities Transfer (FAST) Program as well as open a Limited Participant Account (LPA), prerequisites to establish the 直接转矩 connectivity required for DRS. 在提供DRS之前, a participant is required to participate in either a Surety or Insurance program approved by 直接转矩, or provide proof of similar coverage from an approved surety/insurance provider.

• 好处

  DRS:

  • Provides accurate, quick and cost-efficient transfers between transfer agents and broker/dealers
  • Ensures secure electronic transfer
  • Reduces the risk associated with physical securities processing, 包括周转延误, mail losses and risks associated with stolen, 伪造或伪造证券
  • Eliminates the need for transfer agents to (a) maintain a supply of certificates for each issuer, (b) examine physical certificates and read medallions and (c) perforate, 商店, and eventually destroy cancelled certificates
  • 支持ed the industry move to T+2 and will support the move to T+1, and provides the platform to further enhance securities processing and the dematerialization efforts underway by the industry.
  • Reduces the cost of corporate actions
  • Investors can receive advices and statements, often available on-line
  • All the benefits of certificates without the costs and risks
  • Savings for transfer agents, investors, brokers and issuers

• 服务如何运作

  Participants transmit registration instructions to the FAST agent or issuer through 直接转矩 by using the PTS/PBS function NWT1 or by 文件传输. When the instructions are received by the transfer agent, they establish a book entry account for the investor on their records and mail a transaction advice to the investor.

  通过DRS配置文件系统, an investor’s broker requests securities to be transferred from their book entry DRS account at the transfer agent to the broker’s account at 直接转矩. The request to transfer the securities is entered via the Participant Terminal System (PTS)/Participant Browser System (PBS) or via the depository's 文件传输 protocol. The user enters proprietary information about the registered account, including the customer's account number, 账户注册, 分享量, 税号, 等. A valid surety or insurance number must be submitted with the instructions from the initiating broker. The issuer/agent then validates the information and responds with a corresponding deliver order through DRS.

• 了解更多信息

  To request additional information, please click 在这里.

  
  
  

  Specific client support e-mail addresses are listed in the 客户中心.