I had emailed Scottrade about trading the dividend shares on the Frankfort exchange and got this message back from them which I wanted to share with the board. My original inquiry is below the response:
--- Support Message ---
Reply Date: 12/16/2010 3:16:42 PM
Subject: Re: Trading
Dear XXXXXX,
Thank you for inquiring about your (GRAFF) stock in your account.
Upon speaking with our Dividends department, we ascertained that the original spin-off was restricted and the restriction will apply for 1 to 2 years. You will have to follow the security and find out when the restriction is released. Until the restriction is removed, you will not be able to trade this security.
You may want to check this security's investor relations page for more details.
Please let us know if we may be of further assistance.
Sincerely,
XXXXXXXX X.
National Service Center | Scottrade, Inc.
Phone: 1.800.619.SAVE (7283)
www.scottrade.com
- Original Message ---
Received: 12/16/10 2:16:42 PM CST
To: Scottrade Customer Support <support@scottrade.com>
Subject: Trading
I need some information on trading securities listed on European Exchanges through my Scottrade Account. I have received XX,XXX dividend shares into my account of Graffiti Entertainmenet (GRAFF) which will be traded on the Frankfurt Stock Exchange in Euro's when their IPO is executed. The stock is from Signature Devices (SDVI) who are spinning off a subsidiary company "Graffiti Entertainment" onto the Frankfurt exchange. My question is, will I be able to trade this Graffiti Entertainment stock (in Euro's or Dollars) electronically when the IPO takes place? The new shares in "Graffiti Entertainment" will not be listed on any other exchange.
Thank you,
XXXXXX XXXXXXX
Acct# XXXXXXXX
