The Direct Registration System(DRS) enables investors to hold the securities in an electrical form without having a physical security certificate issued as an evidence of ownership. Through DRS service, assets can be electronically transferred to and from the transfer agent and broker/dealer to easily move shares in and out of DRS.
A DRS fee is not applied by default and must be agreed upon by the client as there is a transfer fee. Only if the client agrees to pay a fee by sending a written confirmation, Saxo will process the transfer and charge the fee.
Click here to see the fee related to DRS.
Saxo will need a Scanned DRS holding statement/certificate and a Stock Bond Power form from the client to implement the transfer.
How much time does the transfer takes?
The transfer of securities takes up to 15 business days however, it might take longer in certain cases. If in case your transfer is not processed, please contact us or write to firstname.lastname@example.org.