GAR Limited. d/b/a/ Netcoins (“NETC” or the "Company") (CSE: NETC) is pleased to announce that the Company's common shares traded in the United States, under the symbol GARLF, are Depository Trust Company ("DTC") eligible, effective June 19, 2018.
DTC is a subsidiary of The Depository Trust & Clearing Corporation, which manages electronic clearing and settlement of publicly traded companies. Securities, such as NETC’s, that are eligible to be electronically cleared and settled through the DTC are considered "DTC eligible". Trading of securities through DTC allows for cost-effective clearing and guaranteed settlement, in turn simplifying and accelerating the settlement process for investors trading NETC's shares.
Securities that do not have DTC eligible status are often not accepted for trading at many brokerages due to the amount of paperwork and staff required to execute and settle trades, which makes it more difficult for a significant percentage of investors to easily access the shares in question.