NEW YORK, Oct. 27, 2016 /PRNewswire/ -- OTC Markets Group Inc. (OTCQX: OTCM), operator of financial markets for 10,000 U.S. and global securities, today announced Direct Transfer LLC (a subsidiary of Issuer Direct Corporation (NYSE MKT: ISDR)), and Olde Monmouth Stock Transfer have joined as participants in OTC Markets' Transfer Agent Verified Shares Program, a new initiative to improve the accuracy and reliability of share information for OTCQX®, OTCQB® and Pink® securities. Verified share data for Direct Transfer and Olde Monmouth's issuer clients is available on www.otcmarkets.com and via OTC Markets Group's market data feeds.
Announced on October 10, the Transfer Agent Verified Shares Program is designed to provide investors with current and reliable share data on OTCQX, OTCQB and Pink securities in a timely manner. The program enables agents to report their clients' share data, including authorized and outstanding shares, to OTC Markets Group on a regular basis via a secure, electronic file transfer. Share data provided by transfer agents is displayed on www.otcmarkets.com alongside a "Verified" logo, indicating the information is reliable and trustworthy. This data is also disseminated through OTC Markets Group's market data feeds to investors and broker-dealers. Participating transfer agents may provide updates as often as once a day, but are required to submit an updated file monthly.
"We're excited that Direct Transfer and Olde Monmouth have decided to join our TA Verified Shares Program," said R. Cromwell Coulson, President and CEO of OTC Markets Group. "Through their participation, these firms are helping their client companies build trust with broker-dealers and investors and improve the overall transparency of the OTCQX, OTCQB and Pink markets. We look forward to working with more transfer agents to continue to grow this important program."
"One of the main limiting factors that was always at the forefront of my mind when researching a company on OTC Markets was my concern that my reliance on the data that I found might be outdated. Now with the TA Verified Shares Program I can be assured of the accuracy of the information. We're thrilled to be a participant in this program and for the enhanced transparency that it provides to investors of companies traded on the OTC Markets," said Eddie Tobler, Vice President of Stock Transfer at Issuer Direct Corp.
"Olde Monmouth Stock Transfer applauds OTC Market's efforts to promote transparency," said Jeff English, Vice President of Olde Monmouth Stock Transfer Co., Inc. "We believe that providing the investing public with reliable, current information about the share structure of public companies is an important part of those efforts. We are more than happy to participate in this worthy project."
Transfer agents interested in participating in the program may contact Andy Kyzyk at OTC Markets Group at (212) 896-4450 or andy@otcmarkets.com. There is no fee for transfer agents to participate.
About OTC Markets Group Inc.
OTC Markets Group Inc. (OTCQX: OTCM) operates the OTCQX® Best Market, the OTCQB® Venture Market, and the Pink® Open Market for 10,000 U.S. and global securities. Through OTC Link® ATS, we connect a diverse network of broker-dealers that provide liquidity and execution services. We enable investors to easily trade through the broker of their choice and empower companies to improve the quality of information available for investors.
To learn more about how we create better informed and more efficient markets, visit www.otcmarkets.com.
OTC Link ATS is operated by OTC Link LLC, member FINRA/SIPC and SEC regulated ATS.
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Media Contact:
OTC Markets Group Inc., +1 (212) 896-4428, media@otcmarkets.com
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SOURCE OTC Markets Group Inc.