Editing Direct holding system (section)

== Electronic system in the US==
In the 1990s, the [[U.S. Securities and Exchange Commission]] (SEC) working with the securities industry, developed a new form of, "direct holding system" that would allow both the speedy settlement of securities transactions and communication between shareholders and their companies.  This new system was a type of book-entry direct registration system (DRS) operated by a [[stock transfer agent]]. This concept would allow any retail investor who wants his or her securities to be registered directly on the books of the issuer, but does not necessarily want to receive a certificate, to register those securities in book-entry form directly on the books of the issuer.  DRS is not widely adopted by retail investors. Most retail stock ownership is accomplished through a broker, which is the registered shareholder in the eyes of the issuer. The use of DRS allows individual investors the status of direct shareholders of the issuer (rather than simply customers of a broker).  Despite recent calls for the normalization of direct registration, a modern and efficient DRS form of direct holding remains for out of reach for many investors.