Verecloud is Now Tradable on the Over-The-Counter Market

Verecloud (www.verecloud.com) has announced in a press release that it has been granted eligibility from Depository Trust Company (DTC) to be traded on the Over-the-Counter market. Verecloud helps communications service providers (CSPs) capture market share in the emerging cloud computing services business. It has trusted intermediary status as a cloud services broker and by collaborating with Verecloud, CSPs are positioned to capture a significant percentage of the market. The company came to known as a public reporting company on Aug. 31 through a share exchange agreement. Company’s public filings are available on the investor relations section of the company's Web site at http://www.verecloud.com/verecloud-investor-relations.html.

The new announcement is sure to bring dramatic change in the market and has been initiated on the basis of the survey of the cloud computing landscape, Mapping the Competitive Landscape of Cloud Computing, presented by Erik Glitman, CEO of Fletcher/CSI (News - Alert). Erik Glitman highlighted some pointes such as what the cloud computing user would like to see in the evolution of the space, who they consider to be the leaders in the market, and perceptions of the role of mobile computing in the environment in the survey.

Depository Trust Company (DTC), a member of the U.S. Federal Reserve System, is a limited-purpose trust company under New York State banking law and a registered clearing agency with the Securities and Exchange Commission. The company is engaged in offering an efficient means of moving securities and settling trades electronically to banks, brokerage firms and other institutions. The depository brings efficiency to the securities industry by retaining custody of some two million securities issues, effectively “dematerializing” most of them so that they exist only as electronic files rather than as countless pieces of paper.

“We are pleased that our common stock is now DTC eligible,” said Jim Buckley, Verecloud's chief financial officer in a press release. He further added, ‘Becoming DTC eligible is a crucial step in increasing our exposure and simplifying how shares can be traded or exchanged through brokers of our investors' choice.”

Rahul Arora is a TMCnet contributor. He has worked as an editor and freelance writer for several reputed organizations in India. To read more of his articles, please visit his columnist page.

Edited by Erin Harrison