In countries that aren&#x27;t the US, things tend to be somewhat closer to this situation... Here in Australia, for example we&#x27;ve basically completely abolished stock certificates for publicly traded companies, and we don&#x27;t have any equivalent of DTC as far as I am aware. Nominee holdings still exist, but it&#x27;s significantly less common than in the US, and it&#x27;s significantly more common for shareholders to be directly registered.<p><a href="http:&#x2F;&#x2F;www.computershare.com&#x2F;News&#x2F;TransparencyofShareOwnershipShareholderCommunicationsandVotinginglobalcapitalmarkets_12032014.pdf" rel="nofollow">http:&#x2F;&#x2F;www.computershare.com&#x2F;News&#x2F;TransparencyofShareOwnersh...</a> is an interesting read.