Kontrol applies for DTC Eligibility to Trade at the OTC Market

BFSI News

Kontrol-applies-for-DTC-Eligibility-to-Trade-at-the-OTC-Market Kontrol applies for DTC Eligibility to Trade at the OTC MarketKontrol Energy Corp., a smart energy solutions provider for building and cities, in a recent press release statement on Tuesday, Mar. 12th 2019, announced engaging a market consultant to apply for eligibility to The Depository Trust Company (DTC) for the trading of Kontrol’s shares on the OTC Market in the United States. The DTC, a wholly-owned subsidiary of the Depository Trust & Clearing Corporation (DTCC), is a trust company that manages the electronic clearing and settlement of publicly traded companies. Securities eligible for electronic clearance and settlement through the DTC are considered “DTC eligible”. The electronic clearance of securities is a speedy way for the receipt of stock and cash and without any clutter speeds up the settlements for OTC traders. The Company expects it will be fully DTC eligible in Q2 2019.

According to Paul Ghezzi, CEO of Kontrol, the company is making ways into the US markets via potential acquisitions and its existing customer base for further business expansion and that’s the primary reason it seeks a place at the trading table to share its growth story with US institutional and retail investors. With Kontrol’s shares trading electronically, existing investors will have the advantage of greater liquidity and execution speeds, and new investors, who may have been previously restricted from transacting in Company’s shares, will find it easy to invest in a trusted marketplace.