or Free Trading Securities
Are there any fees associated with clearing a free trading security?
Yes. There are muliple fees associated with clearing any physical certificate. The clearing firm charges an intitial certificate deposit fee of $75. If there are multiple certificates deposited at the same time, then only one deposit fee is charged. The Transfer Agent and DTC also have their own fees for transfer.
How long does it take to clear shares from a physical certificate and have them available for sale?
After the clearing firm delivers the shares out for transfer, you will be waiting at a minimum 7-10 business days before the shares are available for sale.
I want to deposit some free trading certificates issued to me? What is the next step?
You will first need to make contact with a broker here and discuss the details of your transaction. The broker will have you complete an Equity Deposit Questionnaire or the Quick Facts Questionnaire. You will need to send in a copy of your certificate front and back. See Guidelines for Depositing OTC Securities. Once our compliance department has approved your transaction you can then open an account, or if you have one already open, you can proceed to send in the certificate.
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