Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Microcap & Penny Stocks : VLVT (was CSMA) -- Ignore unavailable to you. Want to Upgrade?

To: Carole who wrote (451)	11/14/1997 1:00:00 PM
From: Russell Gish	Respond to of 11708

Carole, Thanks for the quick cyber response. Year 2000 is too far away for me, but will pass along any info if I hear. Good Luck, Russ P.S. Got my AON limit order filled at the same time as some sellers came in. Hmmmm, is tight really the right adjective?

To: Carole who wrote (451)	11/14/1997 10:26:00 PM
From: Kurt N	Read Replies (2) \| Respond to of 11708

'Just talked to my real live local broker. She says that in the year 2000, certs can no longer be called for. I didnt get in to details with her, we were both pushed for time. Does anyone have any other information on this?' No offense but your broker is mistaken OR is misleading you. I did a little research and here is what I came up with. If your broker meant that in the year 2000 you could no longer call for physical stock certificates printed on a piece of paper, I would probably agree with that. It's going to go all electronic (IMO) and with the support demonstrated by the current chairman of the SEC it will. You can still call for your certificate and have it held 'in book-entry form at the issuer' (ie in your name, just as you would a physical certificate). In fact if the system is set up the way I think it would/should be, there would be no DELAYS at all in getting your certificates, since you could do it yourself (NO Broker to harrass. NO delay from the TA hand-typing certs, NO certificate requests lost, NO delays in the mail, etc.) Kurt ========================================================= sec.gov "The Risks and Rewards of Technology" Remarks by Chairman Arthur Levitt United States Securities and Exchange Commission International Federation of Stock Exchanges New York, New York -- October 13, 1997 .... In the U.S., there is still widespread use of physical certificates, which are at best an inefficient transfer mechanism. We've been taking steps to reduce dependence on physical certificates. For example, recently adopted U.S. market rules require book-entry settlement of most transactions between financial intermediaries; they also require that all exchange and NASDAQ securities be made eligible for deposit at a clearing agency. In addition, we are working with a group of industry representatives to develop what we call a Direct Registration System that allows retail investors to hold securities in book- entry form at the issuer, and to electronically move positions between the issuer and the investors' broker-dealers. Our hope is that all securities transfers will eventually be made electronically. ........