The Depository Trust Company "DTC" is key backup to CDS ReadOver the last several months we have seen a number of companies that were having their trades cleared by the CDS also register with The Depsoitory Trust Company "DTC". I believe I mentioned the DTC in a post a few weeks back as being a possible fall back option should the CDS refuse to clear securities of TMX listed comapnies with assets in the US.
The DTC brings efficiency to the securities industry by retaining custody of more than 3.5 million securities issues valued at US 37.2 trillion, including securities issued in the US and more than 131 countires and territories.
Great news to see that Aphria is following the path of iAnthus, Marapharm and taking full advantage of the DTC.
"While Marapharm trades on the CSE it also trades in the US on the OTCQB. Furthermore, in the US, Marapharm is an approved client of the Depository Trust Company, "DTC" located in New York City, which is a limited purpose trust company providing safekeeping through electronic record keeping of securities balances. DTC is a clearing house which processes and settles trades in securities. The DTC holds trillions of dollars' worth of securities in custody. It settles funds at the end of each trading day."
"iAnthus recently obtained eligibility with The Depository Trust Company ("DTC") in April 2017, allowing iAnthus to facilitate trading and settlement for iAnthus shareholders. DTC is the largest securities depository in the world and holds over US$35 trillion of securities on deposit. Many Canadian brokerages are fully equipped for and settle through both CDS and DTC, and in the event of any CDS policy changes, iAnthus expects to be able to clear trades through DTC. Additional information pertaining to iAnthus' DTC eligibility can be found in iAnthus' news release dated April 3, 2017 (a copy of which is available under the Company's SEDAR profile at www.sedar.com)."
Aphria has joined the many compnies from the CSE that have registered or will register with the DTC as a fall back position. "In addition to the TSX and CDS, Aphria's securities continue to trade on the OTCQB and it is a client of the Depositary Trust Company ("DTC") and any trades in its securities are eligible to be settled via DTC. Similarly in the case of Liberty, in addition to the CSE and CDS, its securities currently trade on the OTC grey market and it expects that its securities will be listed on OTCQX and that trades in its securities will be eligible to be settled via DTC over the next several weeks."
This should put the whole CDS issue to bed. The only remaining hurdle is the US Federal government and to put everything into proper prospective there has never been a raid on a state-compliant cannabis business in the history of the USA. “EVER”. California was the first state compliant legalization of marijuana and has been doing business since 1996 with many other states having joined. Thats 21 years!!!