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Continental offers cross border agency services to assist the primary transfer agent in the facilitation of stock related transfers on behalf of a public issuer. Continental serves in the capacity of co-agent or dual agent for 100 public companies. For our Canadian relationships, Continental has partnered with TSX Trust, the largest Canadian-owned transfer agent but can also be appointed co-agent by issuers utilizing other Canadian transfer agents.

Along with appointing a co-agent, the issuer will work with a DTC participant to sponsor the application process to allow the securities to be DTC eligible. Once eligibility is approved, benefits may include: eliminating the need for paper certificates, the securities trade more efficiently, experience lower cost affiliated with a trade, and the potential of increased stock trading volume. Many United States broker dealers prohibit trading in securities that are not DTC eligible. In addition, DTC eligibility reduces the cost of trading significantly, both for institutions and investors.

What is a Co-Agent?

A co-agent is a record keeping entity selected by an issuer that partners with a primary agent to process stock transactions that occur within the United States. The co-agent’s role includes accepting and transferring certificates or book entry shares and sending daily activity records to the primary transfer agent. A co-agent does not maintain security holder records, but they are used to facilitate the transfer of stock in the United States.

What is a Dual-Listed Transfer Agent?

A dual-listed transfer agent partners with another transfer agent in an alternative country to enable trading of equity shares on more than one market. An issuer may choose to have multiple listings to enhance share liquidity and increase its public profile for investors and employees. Dual listing enables the issuer to diversify its capital raising activities, rather than being reliant only on its domestic market.

What is DTCC?

The Depository Trust & Clearing Company (“DTCC”) is a central securities depository that facilitates trading in the United States by enabling securities to be distributed, settle and service through an automated process. A large portion of stock held in street name is held by DTCC in electronic or “book” form, registered under the nominee name of CEDE & CO. DTCC provides banks and brokerage firms with an efficient means of moving securities and electronically settling trades.


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