Thursday, December 10, 2020 1:51:03 PM
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December 1, 2020
Re: Important Change to Your Account
Dear Valued Customer:
We are writing to inform you of an upcoming change to your account with Dinosaur Financial Group LLC (“Dinosaur”). You are receiving this notice because you currently are a U.S. individual customer of Dinosaur’s digitally enhanced securities business with tZERO ATS, LLC (the “ATS”).
While Dinosaur will continue to operate as a broker-dealer, we will no longer be supporting the current digitally enhanced securities business with the ATS and are winding down that business in phases. Therefore, we will no longer service your digitally enhanced securities account(s) after January 8, 2021 (the “End Date”). In light of this change, your introducing brokerage relationship for accounts holding OSTKO, TZROP, ASPD or cash will be transferred to tZERO Markets, LLC (“tZERO”), which is an unaffiliated broker-dealer registered with the U.S. Securities and Exchange Commission (“SEC”), a member of the Financial Industry Regulatory Authority and the Securities Investor Protection Corporation, and a subscriber to the ATS. There are zero out-of-pocket costs or transfer fees to you to complete the transition to tZERO.
We realize that any change to your account involves a degree of inconvenience, so we do not take this decision lightly. Because both Dinosaur and tZERO carry their customers’ digitally enhanced security accounts with Electronic Transaction Clearing, Inc. (doing business as “Apex Pro”), Apex Pro holds your digitally enhanced securities and will continue to do so after your account is transferred to tZERO.
Your account relationship will be transferred to tZERO and effective as of January 11, 2021 (the “Effective Date”), unless you decide to opt out of establishing a brokerage relationship with tZERO. The opt-out process is outlined below. If you do not opt out of establishing a brokerage relationship with tZERO, you do not need to take any further action. You will be deemed to have consented to the transfer of your account to tZERO if you do not submit a completed opt-out form, as described below, by December 31, 2020 (the “Notice Date”). On and following the Effective Date, tZERO will be your introducing broker-dealer and you will no longer be a customer of Dinosaur. If you decide to “opt out” of the transfer to tZERO, you must request an opt-out form from us and submit the completed form to us on or before the Notice Date. You can request an opt-out form by emailing us at securitytokensupport@dino.com before the Notice Date. You can also call us at 917-386-6216. For questions related to your account transition to tZERO, you can call us at 917-386-6216 or email us at securitytokensupport@dino.com.
Opt Out Process
TZROP AND ASPD
If you opt out of establishing a brokerage relationship with tZERO prior to or on the Notice Date, and you own TZROP and/or ASPD digitally enhanced securities, you will either need to liquidate your TZROP and/or ASPD holdings prior to the End Date, or register your holdings directly in your name with the transfer agent for each of TZROP and/or ASPD prior to the End Date, as no other broker-dealers provide services for TZROP and ASPD accounts at this time. Upon your request, Dinosaur will provide you with an opt-out form in which you must indicate whether you will liquidate or register your TZROP and/or ASPD holdings, and in which you must authorize Dinosaur to instruct Apex Pro to register such securities with the appropriate transfer agent if you do not liquidate or register the securities by the End Date. If you liquidate your positions or your securities are registered directly in your name with the transfer agent, Apex Pro will transfer any cash in your account to such bank as you designate.
OSTKO
If you opt out of establishing a brokerage relationship with tZERO prior to or on the Notice Date, and you own OSTKO digitally enhanced securities, before the End Date you will either need to (i) send Apex PRO instructions to transfer your OSTKO shares to an account that you maintain with a broker-dealer that is a subscriber to the ATS, (ii) liquidate your OSTKO holdings, or (iii) register your holdings directly in your name with the transfer agent for OSTKO. Upon your request, Dinosaur will provide you with an opt-out form in which you must indicate whether you will transfer, liquidate or register your OSTKO holdings, and in which you must authorize Dinosaur to instruct Apex Pro to register such securities with the appropriate transfer agent if you do not transfer, liquidate or register the securities by the End Date. If you liquidate your positions or your securities are registered directly in your name with the transfer agent, Apex Pro will transfer any cash in your account to such bank as you designate.
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