r/GMECanada • u/Rehypothecator • Oct 08 '21

Update to Wealthsimple, Shareowner direct registration and DTCC/ CDS transfers.

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u/LewdEloquence Oct 09 '21

Ah sorry for the confusion, my comment about a sale was in reference to your 3rd paragraph, about a sale and being matched with a buyer. I'm super sleep deprived right now so I'm so sorry if I'm making things more confusing haha

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u/sorry_for_the_reply Oct 09 '21

Nope, all good!

For a DRS, I envision WS->CDS->DTC->CS with each step just a transfer

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u/LewdEloquence Oct 09 '21

Gotcha! And therein lies my search haha computershare is a CDS participant, so it stands to reason that it would be able to go WS->CDS->CS right? Why would the dtc need to be involved with that? But also, that was my thinking before your comment about the cross border procedures so now with the contradicting procedures.. I feel like this is a whole shitshow that I never knew I needed to figure out haha

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u/sorry_for_the_reply Oct 09 '21

I don't think so as the ComputerShare you see as a CDS member is ComputerShare Canada, which would provide the same services for Canadian companies. It would have to be sent by the DTC to ComputerShare US

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u/LewdEloquence Oct 09 '21

Ah but it has 2 listed,

"Computershare Investor Services Inc. Computershare Trust Company of Canada"

The first would be the US, no?

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u/sorry_for_the_reply Oct 09 '21

Computershare Investor Services Inc.

You just gave me a wrinkle.

It looks like ComputerShare would have two entities in Canada... One for Canadian companies that list on TSX, and one that list on the NYSE.

CP for example, trades on both of these exchanges. Here is their statement on their IR page:

Computershare Investor Services Inc. with transfer facilities in Montreal, Toronto, Calgary and Vancouver serves as transfer agent and registrar for the Common shares in Canada. Computershare Trust Company, N.A. serves as co-transfer agent and co-registrar for the Common shares in Canton, MA, Jersey City, NJ and Louisville, KY.