2015 Transfer Agent Market Share

For the past four years, we have tracked the market share of Transfer Agents engaged by active SEC registrants. Computershare/BNY Mellon (Computershare) and American Stock Transfer & Trust (AST) are the perennial leaders, typically sharing over half of the market between them.

The same can be said this year. With Computershare at 38.7% and AST at 24.3%, their combined share increased to 63%, up from 56% last year. As we noted in last year’s post, both transfer agents made significant acquisitions, which surely helped consolidate their market share.

Wells Fargo Bank NA and Continental Stock Transfer & Trust held relatively steady compared to 2014. Both decreased slightly; the former to 4.3% from 4.7%, and the latter to 3.0% from 3.1%.

Broadridge Corporate Issuers, a newcomer to our top five list, came in with 2.3% market share. They were able to jump up thanks primarily to Computershare’s acquisition of Registrar and Transfer, whose former place Broadridge assumed.

Transfer Agent_Table 1

The figures above are based on the number of active SEC registrants each agent represents. Another way to look at market share is to consider trends in IPO companies. Turning to market share based on IPOs, as we also did last year, four of the same agencies from 2014 remain on top.

Not surprisingly, Computershare and AST are the leaders here as well, although AST moves into the top spot when looking at IPO companies. Citibank NA and Broadridge are new contenders this year, tying for fifth at just under 2.5% IPO market share.

Continental Stock Transfer & Trust, in third, was the only transfer agent showing strong IPO gains since last year. It jumped from  5.9% in 2014 to 12.5% in 2015.

Transfer Agent_Table 2

We are looking forward to the 104th STA Annual Conference in Amelia Island, Florida! If you have any questions about this analysis or for Audit Analytics, stop by our booth or contact us.