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:
- the CMO Trade Adjustment System (CTAS),
- Interim Accounting, and
- PUT Bonds.
Login and expand the sections below to learn more.
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.
Click the image above to watch the video in a new window. Video duration: 11:08 minutes.
Watch these videos for a high-level overview of the Interim Accounting processes used by the Depository Trust Company.
Part 1 of 4: About Interim Accounting
Click the image above to watch the video in a new window. Video duration: 4:51 minutes.
Part 2 of 4: Interim Accounting at DTCC
Click the image above to watch the video in a new window. Video duration: 3:22 minutes.
Part 3 of 4: Interim Accounting Process
Click the image above to watch the video in a new window. Video duration: 5:44 minutes.
Part 4 of 4: When Interim Accounting is Used
Click the image above to watch the video in a new window. Video duration: 5:44 minutes.
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
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pdf
Survivor Option PUTS User Guide
(765 KB)
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.