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DTC's Dividend services include announcing, collecting, allocating and reporting dividend, interest and certain principal payments on behalf of its participants with securities in DTC custody. The Dividend and Income Processing section provides additional information about:
- CMO Trade Adjustment System (CTAS)
- PUT Bonds
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The CMO (Collaterilized Mortgage Obligation) Trade Adjustment System (CTAS) automates principal and interest adjustments for certain structure securites such as CMO's and other Asset-backed securities that do not carry Interim Accounting and where trades settle at DTC during the structured security Blackout Period.
The majority of Medium Term Notes are processed in the DTC MMI system because the MMI program provides customers and issuer paying agents (IPA) with a fully automated book-entry environment for the issuance and settlement of securities. With the Survivor Option, the position is segregated on the books at DTC, preventing the participant from selling, moving, or otherwise using the position designated for the put. DTC also facilitates an electronic payment process between the participant and the IPA through the MMI program.
Learning Resources
- Survivor Option PUTS User Guide
The Survivor Option PUT service is available in both the participant terminal system (PTS) and participant browser servcies (PBS) platforms. This guide explains how to access the main menu, enter PUT instructions, make a swing request, and view instructions.