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Non-Tech : Meet Gene, a NASDAQ Market Maker
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To: Bilow who wrote (240)7/30/2000 9:36:00 AM
From: LPS5  Read Replies (1) of 1426
 
Cert calling is going the way of the dodo.

As one of the necessary changes to current clearing systems and codes of uniform practice that will be required to reach T+1 settlement, soon stocks will only be traded on a book entry basis.

The project is called "dematerialization." And what if someone wants a physical manifestation of their equity? Why, they'll get DRG, or Direct Registration Gift card. It won't be the actual stock, of course :)

Read the article, "Ridding the Street of Stock Certificates: Living in a Dematerialized World," by Kerry Massaro, on page 100 of the July 2000 issue of Wall Street & Technology.

LPS5
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