Editing Book entry (section)

==Direct Registration System==
{{See also|Clearing House Electronic Subregister System}}
On August 8, 2006, the [[U.S. Securities and Exchange Commission|SEC]] approved a rule changed by [[NASDAQ]], [[NYSE]] and [[American Stock Exchange|AMEX]] requiring all listed securities (except certain debt securities) to be eligible for a direct registration system ("DRS") as of March 31, 2008. DRS is an entirely electronic book-entry style system that does not involve physical stock certificates. The rule change does not eliminate physical certificates, but requires issuers to be eligible for entirely electronic recording of securities ownership.