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DRS Transfer

 

 

 

The Direct Registration System (“DRS”) is a service offering by the Depository Trust Company (“DTC”) which provides registered shareholders of the issuer with the option of holding their assets (shares) on the books and records of the Transfer Agent in book-entry form instead of a physical stock certificate.

 

DRS allows shares to be transferred between a broker dealer and the Transfer Agent electronically. DRS shares are held in the name of the registered shareholder. DRS shares benefit the shareholder in several ways such as reducing the risk associated with physical securities processing of paper such as a lost certificate; giving the shareholder an opportunity for faster processing time and by providing a cost savings to the shareholder by not having fees associated with printing or postage to mail certificates.

 

Shareholders can convert physical certificates into Direct Registration form (book-entry) by mailing the original stock certificate with instructions to deposit into their direct registration account. Shareholders can convert shares held in street name, by instructing the broker dealer to send the shares to V Stock Transfer through the Direct Registration System.

 

Via the FAST system  shareholders can deposit their stock electronically by either DWAC or DRS.

 

DWAC: Deposit and Withdrawal at Custodian, or

DRS: Direct Registration System

 

The main difference is DWAC deposits require a Medallion Guaranteed Stock Power and DRS deposits are paperless. In the United States and Canada, a medallion signature guarantee is a special signature guarantee for the transfer of securities. It is a guarantee by the transferring financial institution that the signature is genuine and the financial institution accepts liability for any forgery.

 

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