Straight Through Processing
- Securities Industry Immobilization & Dematerialization Implementation Guide - Updated, August 2008, pdf 5.0
- Corporate Secretary Article: "Advancing the paperless revolution" by Brendan Sheehan - July 2008
- DRS Certificate Elimination Letter to SIFMA Members - pdf, August 2007
- Stock Certificate Dematerialization - Presentation and Roundtable - Jan 11, 2007
- Important Information - Direct Registration System (DRS) Update - December 2006
- DTCC Article: Certificates Get a Big Push Towards Retirement - pdf
- STA and SIA Letter Re: Endorsement of Paperless Legal Transfers - pdf, April 26, 2006
- An Investor's Guide To The Alternatives Of Holding Physical Certificates - pdf, posted January 9, 2006
- DTCC's No More Paper Campaign - Why Go Paperless? FAQs on Physical Securities
- Delaware's New Rules Enabling Electronic Stock Ownership - Read Press Release May 25, 2005
- See Also: DTCC's No More Paper Campaign - Why Go Paperless? FAQs on Physical Securities
Project History
March 2004
A Message From The SIA President: Education Initiative To Encourage Clients To "Go Paperless"
The Securities Industry Association is launching an industry wide initiative to educate retail investors about the advantages of book-entry securities ownership.
Studies show that certain retail investors still have securities certificates and insist on receiving a new certificate when they buy shares. However, our industry cannot achieve straight-through processing (STP) -- a paperless environment with a minimum of manual intervention – unless we eliminate certificates and thereby the risks, costs, and delays associated with them.
The industry's ability to grow, expand globally, and provide more efficient, cost-effective service to investors depends on its attainment of straight-through processing. Helping retail investors shift comfortably from paper to book-entry is a vital part of this.
The attached "tool kit" will help your firm educate your clients about the advantages of book-entry registration. It includes three pieces:
- A Client Letter – Designed to encourage retail clients to use the Direct Registration System or street name registration;
- Q&A – Some frequently asked questions about electronic registration, book-entry, and DRS, with answers;
- A Statement Stuffer – A "teaser" emphasizing the advantages of electronic book entry; this could be included when certificates are mailed to investors who insist on receiving them.
These materials are provided electronically so that your firm can adapt them to fit your firm's style.
Please feel free to contact SIA if you have suggestions or concerns about your role in this public education effort.
Thank you for your help in achieving this important industry goal.
Marc Lackritz