Direct Registration. Shares are held in your name.
You can use a transfer agent like ComputerShare.
Visit their website and if you buy stock, it is held under your name instead of in a brokerage, which means you have full control and your shares cannot be lent to short sellers.
Direct Registration System. As an example, GameStop's direct registrar is ComputerShare.
So with GME shares, you can call up your broker (i.e. Fidelity) and tell them you want to direct register your shares with ComputerShare. They will then send your shares info over to ComputerShare, and then your shares will be registered at ComputerShare directly in your name. This removes Cede & Co as being the owner listed on the shares and instead lists you as the owner. This gives you full ownership/control over your shares and removes control from Cede & Co/DTCC.
Fidelity (broker) has been good about DRSing quickly (within 3-5 days). Other brokers however have been dragging their feet. I heard some users state that Vanguard took 2-3 weeks to complete DRS.
Can you explain what DRS is, and how to go about doing it?
Here is an excellent source of information with many links:
www.reddit.com/r/Superstonk/comments/ptvaka/when_you_wish_upon_a_star_a_complete_guide_to/
Direct Registration. Shares are held in your name.
You can use a transfer agent like ComputerShare.
Visit their website and if you buy stock, it is held under your name instead of in a brokerage, which means you have full control and your shares cannot be lent to short sellers.
Direct Registration System. As an example, GameStop's direct registrar is ComputerShare.
So with GME shares, you can call up your broker (i.e. Fidelity) and tell them you want to direct register your shares with ComputerShare. They will then send your shares info over to ComputerShare, and then your shares will be registered at ComputerShare directly in your name. This removes Cede & Co as being the owner listed on the shares and instead lists you as the owner. This gives you full ownership/control over your shares and removes control from Cede & Co/DTCC.
Fidelity (broker) has been good about DRSing quickly (within 3-5 days). Other brokers however have been dragging their feet. I heard some users state that Vanguard took 2-3 weeks to complete DRS.
It's FUDelity now.
Indeed. Their logo alone is enough sus for me.