direct registration system means: DRS is a system that permits electronic registration of securities under an investor’s name, on the books of the issuer or transfer agent. It also allows for shares to electronically be transferred from one broker to another. DRS offers investors a new way to hold their securities, either in street or certificate form. DRS allows investors to choose to register their securities directly with the issuers in book-entry format. Investors who choose to have a DRS-book-entry security will be issued a certificate from either the transfer agent or the issuer confirming ownership. An investor may then electronically transfer the DRS-book-entry position from their bank/brokerdealer. (in Stock Market Dictionary)