Q: What's wrong with paper certificates?
They're expensive to issue, store, ship and insure. And every year more than 1.2 million are reported lost, stolen or counterfeit, costing investors as much as $50 million to get replacements issued.
Q: What's the cost every year for the paper stock certificates issued to investors?
$250 million or more. Paid for by investors, brokers, banks, custodians.
Q: Don't all securities have paper certificates?
No. Many securities now, including corporate and municipal bonds, U.S. government securities, futures and options, money market instruments and mutual funds are issued electronically — entirely without paper! Even U.S. Savings Bonds now come in paperless form.
|November 09, 2009||DTCC Names Anne T. (Nan) Noonan Managing Director,...|
|September 30, 2009||DTCC Names Andrew Gray to Oversee Core Businesses...|
|March 11, 2009||Settlement Organisations Partner to Automate Messa...|
|May 24, 2005||Delaware Law Change Will Save Investors Millions o...|
|@dtcc - July 2011||DTCC Appoints New Group Chief Risk Officer...|
|@dtcc - July 2011||New Head of Regulatory Relations...|
|@dtcc - April 2009||Industry Takes Another Step To Eliminate Paper Cer...|
|@dtcc - December 2008||SEC Approves Eliminating Paper Certificates for Wi...|
|@dtcc - September 2008||Physical Certificates Take a Step Closer to Extinc...|
|@dtcc - September 2008||DTCC Organizes GREAT Collaboration with Global Pee...|
|@dtcc - April 2008||Industry Joins Forces to Meet a Dematerialization ...|
|@dtcc - February 2008||Jasdec Leads Education Effort on Dematerialization...|
|@dtcc - July 2007||'Going Paperless in the Securities Industry'...|
|@dtcc - June 2007||Sidebar: The Case for Paperless...|
|August, 2008||DTC files rule change with the SEC to end issuing ...|
|July, 2008||Advancing the Paperless Revolution (SSA Special Co...|
|July 7, 2008||DTC proposes to make processing enhancements to it...|
|May 5, 2008||The Direct Registration System: Getting Rid of Pap...|
|August 20, 2007||(pdf) SIFMA calls for elminiation of paper certifi...|
|June, 2007||(pdf) The Society of Corporate Secretaries and Gov...|
|February 15, 2007||(pdf) Community Banker: "The Future Is Now for Pap...|
|November 1, 2006||(pdf) SSA Supports Paperless Legal Transfer Progra...|
Going Paperless (pdf)
"Going Paperless in the Securities Industry: Benefiting Issuers and Investors", By Joseph Trezza
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