DRS - Direct Registration System

https://dtcc.com/settlement-and-asset-services/securities-pr...

> "DRS provides investors with an alternative to holding their securities in certificate or “street” form. Under DRS, investors can elect to have their securities registered directly on the issuer’s records in book-entry form. With DRS, the investor does not receive a physical certificate, instead receiving periodic account statements (at least yearly) from the transfer agent or issuer evidencing holdings. Dividend/interest payments, proxy materials, annual reports, etc., are mailed from the issuer or its transfer agent directly to the investor."