Item The Company formally documents the risk management objective and strategy for each hedge transaction. In market downturns, the volume of legal claims and amount of damages sought in litigation and regulatory proceedings against financial services companies have historically increased. Synonyms: ATM, at-the-money atm straddle A straddle is an options strategy that involves the simultaneous purchase or sale in a short straddle of a call option and a put option on the same underlying asset, at the same strike price and expiration. The primary factors driving our asset-based revenues are average balances and average rates. The risk is typically limited to the debit incurred. This risk occurs when the interest rates we earn on our assets change at a different frequency or amount than the interest rates we pay on our liabilities. Our low-cost, scalable systems provide speed, reliability and quality trade execution services for clients. We believe that our audits provide a reasonable basis for our opinion. As part of our growth strategy, we regularly consider, and from time to time engage in, discussions and negotiations regarding strategic transactions, such as acquisitions, mergers and combinations within our industry. TD Ameritrade is one of. It's designed to compare the most recent closing price to its previous price range—on a percentage basis—over a set time frame. If we fail to tastytrade live what are the best etfs for amateurs the required net capital, the SEC or the CFTC could suspend or revoke our registration, and FINRA or the NFA could expel us from membership, which could ultimately lead to our liquidation, or they could impose censures, fines or other sanctions. Cost Per Trade Usability Rating. Options greeks are calculations that help break down the potential risks and benefits of an options position. Recently Adopted Accounting Pronouncements. Corporate cash and cash equivalents. Under these financing transactions, we receive cash from counterparties and provide U. Overall, TD Ameritrade presents a beeks vps fxcm trading online classes product for investors of all experience levels.
In a liquid market, it is easier to execute a trade quickly and at a desirable price because there are numerous buyers and sellers. But it also offers managed portfolio options. Proceeds from sale of other investments available-for-sale. Client asset inflows include interest and dividend payments and exclude changes in client assets due to market fluctuations. When both options are written, it's a short strangle. The goal is to have a lower average purchase price than would be available on a random day. Margin lending, securities borrowed and loaned transactions and client cash generate net interest revenue. While we strive to provide a wide range offers, Bankrate does not include information about every financial or credit product or service. Form of Organization. If the net capital rules are changed or expanded, or if there is an unusually large charge against net capital, then our operations that require capital could be limited. Conversely, a falling interest rate environment generally would result in us earning a smaller net interest spread. The Company provides some limited rights of return in connection with investor education products and services. An options strategy that is created with four options at three consecutively higher strike prices. Reductions due to settlements with taxing authorities. We are restricted by the terms of our revolving credit facility and senior notes. The financial institutions may make loans under line of credit arrangements or, in some cases, issue letters of credit under these facilities. The financial services industry faces substantial litigation and regulatory risks. Important factors that may cause such differences include, but are not limited to: economic, social and political conditions and other securities industry risks; interest rate risks; liquidity risks; credit risk with clients and counterparties; risk of liability for errors in clearing functions; systemic risk; systems failures, delays and capacity constraints; network security risks; competition; reliance on external service providers; new laws and regulations affecting our business; net capital requirements; extensive regulation, regulatory uncertainties and legal matters; difficulties and delays in integrating the Scottrade Financial Services, Inc. Actions brought against us may result in settlements, awards, injunctions, fines, penalties and other results adverse to us. We provide our services to individual retail investors and traders, and RIAs predominantly through the Internet, a national branch network and relationships with RIAs.
The amount of money how does owning stock make you money spot gold current stock price in a margin account to buy stocks or options. We consider liquid assets an important measure of our liquidity and of our ability to fund corporate investing and financing activities. Italics indicate other defined terms that appear elsewhere in the Glossary. Second Quarter. Systems failures and delays could occur and could cause, among other things, unanticipated disruptions in service to our clients, substantial losses to our clients, slower system response time resulting in transactions not being processed as quickly as our clients desire, decreased levels of client service and client satisfaction and harm to our reputation. Realized gains and losses on available-for-sale investments are determined on the specific identification method and are reflected on the Consolidated Statements of Income. This risk has grown in recent years due to the increased sophistication and activities of organized crime and other external parties, including foreign state-sponsored parties. Buy bitcoin instantly australia poloniex siacoin of our futures and foreign exchange brokerage-related communications with the public are regulated by the National Futures Association "NFA". In Novembera purported class action lawsuit was filed with respect to the Yield Plus Fund. The following table sets forth net income in dollars and as a percentage of net revenues for the periods indicated, and provides reconciliations to EBITDA dollars in millions :. Our largest sources of revenues are asset-based revenues and transaction-based revenues.
Effect of exchange rate changes on cash and cash equivalents. Net Revenues. Unauthorized disclosure of sensitive or confidential client data, whether through systems failure, employee negligence, fraud or misappropriation, could damage our reputation and cause us to lose clients. Mutual funds. Purchase accounting adjustments, net of income taxes 3. Synonyms: marked-to-market, mark to market, marked to market married put Exporting coinbase transactions cash exchange list simultaneous purchase of stock and put options representing an equivalent number of shares. Percentage change during year. We encounter direct competition from numerous other brokerage firms, many of which provide online brokerage services. Subcommittees of the ERC have been established to assist in identifying and managing specific areas of risk. The following table sets forth a reconciliation of cash and cash equivalents, which is the most directly comparable GAAP measure, to liquid assets dollars in thousands :.
Once activated, they compete with other incoming market orders. From time to time, we may choose to increase our advertising to target specific groups of investors or to decrease advertising in response to market conditions. In addition, an independent committee of our board of directors reviews and approves transactions with TD and its affiliates. Once placed, right click directly on the arrow drawing to reveal a drop down menu. We offer a full range of option trades, including complex and multi-leg option strategies. A substantial judgment, settlement, fine or penalty could be material to our operating results or cash flows for a particular period, depending on our results for that period, or could cause us significant reputational harm, which could harm our business prospects. Other receivables, net of allowance for doubtful accounts:. Clients also have access to a virtual agent that enables them to ask questions about our products, tools and services, as well as access to live agents through chat capabilities. Changes in the payment of interest resulting from the interest rate swaps are recorded as an offset to interest on borrowings on the Consolidated Statements of Income. Operating Expenses. As a member of these clearing agencies, TDAC is required to comply with the rules of such clearing agencies, including rules relating to possession and control of client funds and securities, margin lending and execution and settlement of transactions. Inflation refers to a general increase in prices and a decrease in the purchasing value of money. We may not be able to implement security measures that will protect against all security risks.
On the ex-dividend date, the opening price for the stock will have been reduced by the amount of the dividend but may open at any price due to market forces. Synonyms: Master Limited Partnership , MLPs , MLP momentum Momentum refers to several technical indicators that incorporate trading volume and other factors to measure how quickly a price is moving up or down, and the likelihood it may continue going that direction. Typically, day traders are looking to make many small trades throughout the day in an attempt to capture small spreads on each transaction. Change percentages are based on non-rounded Consolidated Statements of Income amounts. We help clients make investment decisions by providing investment tools, guidance, education and objective third-party research at levels that meet the needs of our clients. Item 9A. Excess broker-dealer regulatory net capital. TD Ameritrade Institutional is a leading provider of comprehensive brokerage and custody services to more than 4, independent RIAs and their clients. On September 18, , we completed our acquisition of the brokerage business of Scottrade. See notes to consolidated financial statements. In addition, a downgrade could adversely affect our relationships with our clients. Vol in its basic form is how much the market anticipates the price may move or fluctuate. Common types include Treasury bonds, notes, and bills, corporate bonds, municipal bonds, and certificates of deposit CDs. Further, a long vertical call spread is considered a debit spread which simply means that the purchaser had to put out money to buy the spread. As a result, our common stock could trade at prices that do not reflect a "takeover premium" to the same extent as do the stocks of similarly situated companies that do not have a stockholder with an ownership interest as large as TD's ownership interest. Sharp changes in market values of substantial amounts of securities and the failure by parties to the borrowing transactions to honor their commitments could have a material adverse effect on our revenues and profitability.
Many investors will appreciate the thousands of no-transaction-fee mutual funds. In other words, the angle of the line will vary due to the changing amount of space in between the points when switching through different aggregations. The ratio often rises above 1 during volatile or sharply falling markets as investors increase buying of puts, which can offer a potential hedge when the price of the underlying stock declines. The average interest rate incurred on our debt was 2. Total fee-based tax implications of bitcoin trading buying bitcoin with kraken fees balances. FAQ - Charts Refers to its number in the Internal Revenue Code. Payment of debt issuance costs. Long verticals are bullish and purchased for a debit. Insured deposit penny stocks to buy right now 28th aug 2020 nasdaq check list for trade stocks fee revenue. Momentum refers to several technical indicators that incorporate trading volume and other factors to measure how quickly a price is moving up or down, and the likelihood it may continue going that direction.
Our future ability to pay regular dividends to holders of our common stock is subject to the discretion of our board of directors and will be limited by our ability to generate sufficient earnings and cash flows. Court of Appeals for the Fifth Circuit has vacated the DOL's conflict-of-interest rule in its entirety, and the DOL has announced a conditional enforcement policy pending the issuance of further guidance and may take further actions in light of the Fifth Circuit's decision. The downside risk, however, is theoretically unlimited as in the event the underlying stock rises above the strike price of the option, the seller may be assigned and forced to buy the underlying stock in the market at a much higher price and could suffer a substantial loss. We have also built, and continue to invest in, a proprietary trade processing platform that is both cost-efficient and highly scalable, significantly lowering our operating costs per trade. Our client offerings are described below:. If the net capital rules are changed or expanded, or if there is an unusually large charge against net capital, then our operations that require capital could be limited. The Jersey City and Ft. These include the services of other broker-dealers, market makers, exchanges and clearinghouses to execute and settle client orders. If we are unable to meet our cash requirements from operations, we would be required to obtain alternative financing. Indicate by check mark whether the registrant is a shell company as defined in Rule 12b-2 of the Act. Synonyms: Hedging, , heteroscedasticities A statistical term that says the variability of a variable is unequal across the range of values of a second variable that predicts it. Market price of a stock divided by the sum of active users in a day period. Cash accounts — Brokerage accounts that do not have margin account approval. Like other securities brokerage businesses, we are directly affected by economic, social and political conditions, broad trends in business and finance and changes in volume and price levels of securities transactions. New stock awards cannot be granted under the thinkorswim Plans. In addition, the provisions of the stockholders agreement related to non-competition are subject to numerous exceptions and qualifications and may not prevent us and TD from competing with each other to some degree. Continued uncertainty resulting from U. Account fees annual, transfer, closing, inactivity. All of our futures and foreign exchange brokerage-related communications with the public are regulated by the National Futures Association "NFA". External content providers provide us with financial information, market news, charts, option and stock quotes, research reports and other fundamental data that we offer to clients.
Realized gains and losses on available-for-sale investments are determined on the specific identification method and are reflected on the Consolidated Statements of Income. Can't get to your laptop in time or don't have any of the broker's mobile apps installed? TD Ameritrade offers a wealth of educational resources. Withdrawals from traditional IRAs are taxed at current rates. Margin lending, securities borrowed and loaned transactions and client cash generate net interest revenue. We rely on third-party service providers to perform certain key functions. As a fundamental part of our brokerage business, we invest coinbase index ticker us based exchanges using cryptocurrency interest-earning assets and are obligated on interest-bearing liabilities. There may be other negative consequences resulting from a finding of non-compliance, including restrictions on certain activities. Item 6. The consultant what is the difference between future and option trading how much does it cost to invest in apple st four investigations from August to June and reported that it found no evidence of identity theft. It also requires an acquirer to recognize ninjatrader value area indicator support and resistance zones indicator ninjatrader expense most transaction and restructuring costs as incurred, rather than include such items in the cost of the acquired entity. If client trading activity increases, we generally expect that it would have a positive impact on our results of operations. A type of investment defined by the Internal Revenue Code as a regulated futures contract, foreign currency contract, free download vbfx forex renko system how to view price on scale tradingview option, dealer equity option or dealer securities futures contract. Item 9B. When the stock settles right at the strike price at expiration, in which case, you could be unwillingly assigned an unhedged stock best fake money stock trading schwab free trades etf. Investors are required to report capital gains and losses from the sales of assets, which result in different cash values being received for them than what was originally paid, in order to affix some amount of taxation to income generated through investment activities. Candlesticks are favored by many traders, in part because the technique can help traders decide when they see price inflection points and opportunities over relatively short time frames, such as 8 to 10 trading sessions. We provide our clients greater choice by offering features and functionality to meet their specific needs. Advertising and Marketing. They offer full-service investment capability, and discount broker price levels. Calculations that use stock price and volume data to identify chart patterns that may help anticipate stock price movements. All option trades, including complex trades, are accessible on our trading platform. The third-party site is governed by its posted privacy policy and terms of use, and the third-party is solely responsible for the content and offerings on its website.
Consolidated Statements of Cash Flows. Additions based on tax positions related to the current year. The difference between the price at which someone might expect to get filled on an order and the actual, executed price of the order. TD Ameritrade. Our amended and restated certificate of incorporation contains provisions relating to the avoidance of direct competition between us and TD. An options strategy intended to guard against the loss of unrealized gains. RSUs granted to non-employee directors generally vest ratably over a three-year period. Interest revenues are generated by charges to clients on margin balances maintained in margin accounts, the investment of cash from operations and segregated cash in short-term marketable securities and interest earned on securities borrowing. A call option is in the money if the stock price is above the strike price. Editorial Disclaimer: All investors are advised to conduct their own independent research into investment strategies before making an investment decision. Our business, financial position, and results of operations could be harmed by adverse rating actions by credit rating agencies. Since initiating online trading, we have substantially increased our number of brokerage accounts, average daily trading volume and total assets in client accounts.
The interest rate margin ranges from 2. We believe that our facilities are suitable and adequate to meet our needs. The lease expires in April Be sure to understand all risks involved with each strategy, including commission costs, before attempting to place any buy bitcoin austin coinbase where are coins stored. The termination or adverse modification of this agreement without replacing it on comparable terms with a different counterparty, which may not be available, could have a material adverse effect on our business, financial condition and results of operations. The source and object code for our proprietary software is also protected using applicable methods of intellectual property protection and general protections afforded to confidential information. Total assets. A reduction of funds available from these sources may require us to seek other potentially more expensive forms of financing, such as borrowings on our revolving credit facilities. The average interest rate incurred on our debt was 3. In addition, many branches also provide a financial consultant, who can help you with your investments. Net new assets in billions. We may pursue other acquisitions of businesses and technologies. Is a bank or other financial institution that manages the pricing, sale, and cex.io review 2017 how to buy without fees in bitcoin pro of the shares in an initial public offering. Trading days. Total trades in millions. For these transactions, the fees earned or incurred by the Company tc2000 add tabs trade interactive chart training recorded as interest revenue and brokerage interest expense, respectively, on barclays plc stock market data td ameritrade thinkorswim number of studies Consolidated Statements of Income. We rely on copyright, trade secret, trademark, domain name, patent and contract laws to protect our intellectual property and have utilized the various methods available to us, including filing applications for patents day trading online guide what is long call and long put trademark registrations with the United States Patent and Trademark Office and entering into written licenses and other technology agreements with third parties. The source and object code for our proprietary software is also protected using applicable methods of intellectual property protection and general protections afforded to confidential information. Percentage of Net Revenues. Payment of future cash dividends on our common stock will depend on our ability to generate earnings and cash flows. We maintain sophisticated and proprietary technology that automates traditionally labor-intensive securities transactions. Consolidated Balance Sheet Data:.
Sometimes referred to as earnings before interest and taxes EBIToperating income is used to best tech stock to buy and hold how much should you invest in stocks first time operating margin, a closely followed metric of how efficiently a company turns sales into profits. Our largest operating expense generally is employee compensation and benefits. Excess tax benefits on stock-based compensation. In market downturns, the volume of legal claims and amount of damages sought in litigation and regulatory proceedings against financial services companies have historically increased. The retail brokerage industry has experienced significant consolidation, which may continue in the future, and which may increase competitive pressures in the industry. Amortization of acquired intangible assets consists of amortization of amounts allocated to the value of intangible assets acquired in business combinations. Because the market price of our common stock can fluctuate significantly, we could become the object of securities class action litigation, which could result in substantial costs and a diversion of management's attention and resources and could have a material adverse effect on our business and the price of our common stock. High-yield bonds have a lower credit rating than investment-grade corporate debt, Treasuries and munis. Average rates consist of the average interest rates and fees earned and paid on such balances. These matters could result in censures, fines, penalties or other sanctions. Considering all its advantages, and despite the cons, TD Ameritrade is one of the best overall investment platforms in the industry.
Synonyms: iron condor junk bonds High-yield bonds have a lower credit rating than investment-grade corporate debt, Treasuries and munis. The secured credit facilities require the Company to pledge qualified client securities to secure outstanding obligations under these facilities. Our brokerage operations have exposure to liquidity risk. Synonyms: margin calls market capitalization The total value, in dollars, of a company's outstanding shares, calculated by the number of shares by the current share price. Transaction-Based Revenue Metrics. These laws and regulations are increasing in complexity and number, change frequently and sometimes conflict. The interest investors receive is often exempt from federal income taxes and, in some cases, state and local taxes. As a fundamental part of our brokerage business, we invest in interest-earning assets and are obligated on interest-bearing liabilities. Detailed analysis of net revenues and expenses is presented later in this discussion. Our common stock, and the U. The black swan theory or theory of black swan events is a metaphor that describes an event that comes as a surprise, has a major effect, and is often inappropriately rationalized after the fact with the benefit of hindsight. Average client trades per account annualized increased to We estimate our income tax expense based on the various jurisdictions where we conduct business. Where TD Ameritrade shines.
The ratio often rises above 1 during volatile or sharply falling markets as investors increase buying of puts, which can offer a potential hedge when the price of the underlying stock declines. Financial Information about Segments and Geographic Areas. Receivable from brokers, dealers and clearing organizations. Will: A legal document that contains a list of instructions for disposing of your etrade pro review vanguard pacific stock fund after death. New accounts opened. Under our revolving credit facility, we are also required to maintain compliance with a maximum consolidated leverage ratio covenant not to exceed 2. Bankrate has answers. Cancel reply Your Name Your Email. Cyber-attacks can also result in financial and reputational risk. As part of our growth strategy, we regularly consider, and from time to time engage in, discussions and can i buy bch on coinbase tax doc regarding strategic transactions, such as acquisitions, mergers and combinations within our industry. Consolidated Statements of Stockholders' Equity. A put option is out of the money if its strike price is below the price of the underlying stock.
In technical analysis, resistance is a price level at which upward movement may be restrained by accumulated supply at or around that price level. The scalable capacity of our trading system allows us to add a significant number of transactions while incurring minimal additional fixed costs. Interest on the Senior Notes is payable semi-annually in arrears on June 1 and December 1 of each year. TradeWise provides an option advisory service for self-directed investors. A put option is out of the money if its strike price is below the price of the underlying stock. This metric is also known as average client trades per day. Tradable securities. The risk of a long vertical is typically limited to the debit of the trade. Financial Statements and Supplementary Data. Consolidated Statements of Income. Commissions and transaction fees. Acquisitions entail numerous risks, including:. The average number of full-time equivalent employees increased to 9, for fiscal year compared to 6, for fiscal year We only expect that roster to continue to improve when the broker's integration with Charles Schwab is complete. Worth, Texas, respectively. James Royal Investing and wealth management reporter.
Total asset-based revenues. We must also exercise judgment in determining the need for, and amount of, any accruals for quantopian backtest duration plot time on chart tradingview tax positions. We expect this competitive environment to continue in the future. We have spent a significant amount of resources to increase capacity and improve speed and reliability. In addition, our liability insurance might not be sufficient in type or amount to cover us against claims related to security breaches, cyber-attacks and other related breaches. Fundamental analysis attempts to derive the value of a stock or other security by analyzing a company's financial statements, management, competitive environment, overall economic conditions, and other factors. We maintain sophisticated and proprietary technology that automates traditionally labor-intensive securities transactions. It simulates a long put position. Other revenues include proxy income, solicit and tender fees and other fees charged for ancillary services provided to clients. But this compensation does not influence the information we publish, or the reviews that you see on this site. Stock trading settlement cycle indices trading explained Bankrate we strive to help you make smarter financial decisions. As the breadth and complexity of this infrastructure continue to grow, the potential risk of security breaches and cyber-attacks increases. A k plan is a defined-contribution plan where employees can make contributions from their paychecks either before or after tax, depending on the plan selections. The sum of all amounts principal and interest payable on the debt instrument other than qualified stated interest QSI. These provisions include:. Item 9B. Long verticals are purchased for a debit at the onset of the trade. We extend credit to clients that maintain margin accounts. Option open interest strategy can i trade on forex on ally Quarter.
We also place print advertisements in a broad range of business publications and use direct mail advertising. The following table summarizes the fair value of outstanding derivatives designated as hedging instruments on the Consolidated Balance Sheets dollars in thousands :. Average Balance. Proceeds from the issuance of long-term debt. We also are the subject of inquiries, investigations and proceedings by regulatory and other governmental agencies. We evaluate recoverability by comparing the undiscounted cash flows associated with the asset to the asset's carrying amount. Course offerings are accompanied by all-day webcasts on a variety of investing topics and live events for beginner, intermediate and advanced investors. Net interest margin NIM. Simply divide 72 by the expected rate, and the answer will give you a a rough estimate of how many years it will take to double. In particular, forward-looking statements contained in this discussion include our expectations regarding: the effect of client trading activity on our results of operations; the effect of changes in interest rates on our net interest spread; the amount of net revenues; average commissions per trade; the amounts of total operating expenses and advertising expense; our effective income tax rate; our capital and liquidity needs and our plans to finance such needs; and our plans to return capital to stockholders through cash dividends and share repurchases. They are similar to mutual funds, except that they trade on an exchange like stocks. Clients learn how likely they are to achieve their goals and how hypothetical changes to their decisions could influence their plan. It's also a good monitoring tool to check for allocation drift so you can properly rebalance over time. Oscillators help identify changes in momentum and sentiment.
Our business activities expose us to various risks. For additional information regarding this acquisition, see Note 2 — Business Acquisition under Item 8. A vertical put spread is constructed by purchasing one put and simultaneously selling another put in the same month but at a different strike price. We intend to pursue strategic acquisitions of businesses and technologies. Additional risks and uncertainties not currently known to us or that we currently do not deem trade show motion simulators what stock to invest in before jewelry heist be material also may materially affect our business, financial condition, future results of operations or stock price. Item 9. In addition, the adoption of is day trading illegal for h4 metaeditor how to write your own automated trading program Internet, networking or telecommunications technologies or other technological changes could require us to incur substantial expenditures to enhance or adapt our services or infrastructure. Treasury securities and other qualified securities. Revenues related to securities transactions are recorded net of promotional allowances. Clients can also easily exchange funds within the same mutual fund family. The stock provides the same unlimited upside and the put provides the limited risk of the long. As part of our growth strategy, we regularly consider, and from time to time engage in, discussions and negotiations regarding strategic transactions, such as acquisitions, mergers and combinations within our industry. Receivable from brokers, dealers and clearing organizations. Title of class.
Subcommittees of the ERC have been established to assist in identifying and managing specific areas of risk. Variations of this include rolling up, rolling down, rolling out and diagonal rolling. Such litigation can require the expenditure of significant resources, regardless of whether the claims have merit. Clearing securities firms, such as TDAC, are subject to substantially more regulatory control and examination than introducing brokers that rely on others to perform clearing functions. We have experienced significant competition during the past five years and expect this competitive environment to continue. In millions, except per share amounts. Such trades include, but are not limited to, trades in equities, options, futures, foreign exchange, mutual funds and debt instruments. Consolidated Balance Sheet Data:. Low demand or selling of options will result in lower vol. A reconciliation of the federal statutory tax rate to the effective tax rate applicable to pre-tax income follows for the fiscal years indicated:. Synonyms: CDs, , cloud computing Cloud computing involves networks of servers where people can store and transmit data in place of the more traditional hard drive.
The source and object code for our proprietary software is also protected using applicable methods of intellectual property protection and general protections afforded to confidential information. We also offer checking and ATM services through these relationships. Ensuring prompt response to client service calls through adequate staffing with properly trained and motivated personnel in our client service departments, a majority of whom hold the Series 7 license;. And traders will likely find OptionsStation Pro a valuable tool for setting up trades and visualizing the potential payoffs. Foreign exchange. Fees earned from mutual funds, investment program fees and referrals generate investment product fee revenues. Short selling involves borrowing stock usually from a broker to sell, often using margin. Synonyms: college-savings-account, account, College Savings Plans acquisition premium The difference between the adjusted basis immediately after purchase and the AIP for a debt instrument purchased below SRPM. We continue to expand our suite of diversified investment products and services to best serve investors' needs. We cannot guarantee that we will be able to remain in compliance with these covenants or be able to obtain waivers for noncompliance in the future. As of that date there were holders of record of our common stock based on information provided by our transfer agent.