Avanti Energy Inc. (OTCMKTS:ARGYF) jumped 5% after announcing the eligibility of its common shares for electronic settlement and clearing via the Depository Trust Company in the US. DTC is a Depository Trust & Clearing Corporation subsidiary that manages electronic settlement and clearing of listed companies.
Notably, securities qualifying for electronic clearing and settlement via DTC are thought to be “DTC eligible” It is vital to note that DTC eligibility will simplify the trading process and improve the liquidity of Avanti Energy’s common stock in the US.
CEO Chris Bakker stated that they are delighted to obtain DTC eligibility. Bakker explained that DTC eligibility would simplify the trading process and transfer of Avanti Energy stock between brokerages across theUS. Equally, it cuts of the costs incurred in shares trading. He added that now with the shares DTC eligible, Avanti Energy expects it to lead to enhanced liquidity and accelerated execution and availability of the shares to a broad number of investors. Following the DTC eligibility, ARGYF stock is worth watching.
Market Reaction:
On Tuesday, ARGYF stock increased by 5.34% to $1.38 with more than 51k shares, compared to its average volume of 107k shares. The stock has moved within a range of $1.2400 – 1.4037 after opening the trade at $1.24.
