Re: UBS and traders
in response to
by
posted on
Nov 14, 2008 05:08AM
Golden Minerals is a junior silver producer with a strong growth profile, listed on both the NYSE Amex and TSX.
I asked my Swiss Bank the same questions. My Swiss Bank had and still has no clue what this is all about, I have not obtained a certificate so far. It should be possible though to obtain the share certificates, an official certificate of the Canadian Transfer Agent of your Swiss Bank to have your shares in your name, for the case any intermediary goes broke.
To ensure your shares aren't used against you e.g. your bank or their Canadian agent lending them to a shorter you can put in a sell order to for instance CA$ 3.50. In this way they are allocated and can't be lend out.
There are three primary forms to represent share ownership:
Transfer Agent:
The record keeper employed by a public corporation to prepare and maintain records related to the accounts of their shareholders. Such information would include the name of each registered shareholder, his or her address and the number of shares owned. The agent oversees the issuance of certificates to new shareholders and the destruction of certificates that have been sold.
It does not matter if a transfer agent is owned by a bank or financial entity because it is a separately incorporated non financial entity posing no financial risk to those it accounts.
Street Name:
A term used for describing a stock that is held in the name of a brokerage firm, instead of the actual purchaser of the stock. When you buy a stock and let your brokerage firm hold the stock certificate on your behalf, the stock is said to be held in "Street Name".
Nominee name:
An official of a financial institution or some other appointed agent to whom securities or other funds are transferred by agreement with the actual owner. Nominees facilitate the collection and distribution of income from securities (when such securities are held in the name of a nominee), and facilitate the sale or purchase of securities when it may be inconvenient or impractical to obtain the necessary signature of the principal in order to conduct a transaction.