GlobeX Data Ltd. is Now Listed OTCQB: SWISF and Receives DTC Eligibility in the U.S. Markets
November 14, 2019 in Company news
November 14, 2019 – Toronto, ON and New York, NY. – GlobeX Data Ltd. (OTCQB: SWISF) and (CSE: SWIS, SWISF.WT) (“GlobeX” or the “Company”), is pleased to announce that its OTCQB listed shares with ticker SWISF have received DTC Eligibility as of November 7th 2019. This DTC Eligibility comes within two days of the Company’s receipt by OTC Markets Group for its common shares to be uplisted on the OTCQB Venture Market with the trading symbol SWISF. The Company continues trading its common shares on the Canadian Securities Exchange (“CSE”) with the trading symbol SWIS.
“We are thrilled to be listed on the OTCQB Venture market and receive DTC Eligibility for our shares in the U.S. markets for our common shares traded under SWISF. Having DTC Eligibility will greatly increase our liquidity over time so that both U.S. and International investors can participate in our growth. DTC Eligibility also lowers the cost of trading securities for investors and increases exposures to financial institutions and market makers worldwide. This approval, speaks to our commitment to apply the highest standards of compliance and governance in our Company. As a leader in Swiss hosted cyber security and Internet Privacy, we apply best-of-class standards in everything that we do in order to protect our users’ data and privacy. As in our services, it was important to GlobeX to receive DTC Eligibility in order to continue listing our shares under best-of-class standards. DTC Eligibility represents that standard in the financial industry.” said Alain Ghiai, Founder and CEO of GlobeX.
According to DTCEligibility.com website http://www.dtceligibility.com the following information can be found:
What is the meaning of DTC?
The Depository Trust Company (DTC) is one of the world’s largest securities depositories. The DTC, which was founded in 1973 and is based in New York City, is organized as a limited purpose trust company and provides safekeeping through electronic record-keeping of securities balances.
What does it mean to be DTC Eligible?
DTC eligibility means that a public company’s securities are able to be deposited through DTC. DTC is the largest securities depository in the world and holds over thirty-five trillion dollars’ worth of securities on deposit. DTC accepts deposits of securities from its participants only, who are usually clearing firms.
Why is it important to be DTC Eligible:
The Depository Trust Clearing Corporation (“DTCC”) facilitates electronic trading of securities in the U.S. through its central depository system known as the Depository Trust Corporation (DTC). The DTC system allows participating brokerage firms to electronically settle trades with other member firms. This is accomplished by holding securities in “street name,” which means that they are held electronically at the brokerage firm that has deposited the securities into its account with DTC. This eliminates the need for buyers and sellers holding securities in street name to produce physical certificates to settle the trades. The Depository Trust Corporation’s automated clearing and settlement system automatically transfers the “net” trades between participating firms. This allows for a dramatic reduction in the costs associated with trading securities.
The benefits of being DTC Eligible include:
- Increased ease of trading the Company’s securities
- Lower trading costs
- Improved liquidity in the Company’s securities
- Higher valuation
About GlobeX Data Ltd.
GlobeX Data Ltd. distributes, designs and develops Swiss hosted cyber security and Internet privacy solutions for secure data management and secure communications. The Company distributes a suite of secure cloud-based storage, document management and collaboration, encrypted e-mails, and secure communication tools. GlobeX Data Ltd. sells its products through approved distributors and telecommunications companies worldwide. GlobeX Data Ltd. serves consumers, businesses and governments worldwide.
Forward Looking Information
This news release contains certain forward-looking information within the meaning of applicable Canadian securities laws (“forward-looking statements”). All statements other than statements of present or historical fact are forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as “anticipate”, “achieve”, “could”, “believe”, “plan”, “intend”, “objective”, “continuous”, “ongoing”, “estimate”, “outlook”, “expect”, “project” and similar words, including negatives thereof, suggesting future outcomes or that certain events or conditions “may” or “will” occur. These statements are only predictions. These statements reflect management’s current estimates, beliefs, intentions and expectations; they are not guarantees of future performance. GlobeX cautions that all forward-looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond GlobeX’s control. Such factors include, among other things: risks and uncertainties relating to the future of the Company’s business; the success of marketing and sales efforts of the Company; the projections prepared in house and projections delivered by channel partners; the Company’s ability to complete the necessary software updates; increases in sales as a result of investments software development technology; consumer interest in the Products; future sales plans and strategies; reliance on large channel partners and expectations of renewals to ongoing agreements with these partners; anticipated events and trends; the economy and other future conditions; and other risks and uncertainties, including those described in GlobeX’s prospectus dated May 8, 2019 filed with the Canadian Securities Administrators and available on www.sedar.com. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information. Except as required under applicable securities legislation, GlobeX undertakes no obligation to publicly update or revise forward-looking information.
On behalf of the Board of Directors
Alain Ghiai, CEO