CERTS are not for the most part exchanged for a name and or a symbol change...they are exchanged when an RS occurs because the value of the certs and quanity change so much... with Symbol and name changes the only thing that actually changes is the CUSIP number for which the shares are held under... that is what has to be reconciled by the brokers... ture its done electronically but they still must match all of the investors they have with the current shares and then lable them under the new CUSIP .... thats what takes the time.
If Broker A only has say 10 investors they will finish up and let the shares trade sooner then say Broker B who may have 200 investors....
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