How long does it take an online brokerage to execute share changes after a merger?
Posted by Answers CommunityI owned shares of an NYSE-traded security that executed a merger on Friday eliminating the security and issuing fractional amounts of the new security. But my shares are still in limbo because my online brokerage hasn't converted them to the new security yet. How long does this generally take?
|
|
|
|
|
|
Related Questions and Answers/Posts
- How to manage your own portfolio online without allowing brokerage fees to take too much of your money?
- How does a mutual fund buy shares in a company?
- How do I transfer my stocks from one brokerage firm to another?
- What is the statutes of limitations governing a brokerage firm in the state of Wisconsin?
- What is the best online brokerage option for a beginning investor?
|
|
|
It's not always the brokerage – mergers, acquisitions and the such need the work of the transfer agent who will physically take the old shares and issue new ones. Usually this only takes a couple of days but I have seen some take a week or so…