• Asset Services Learning Center

      The Depository Trust Company (DTC), the central securities depository subsidiary of DTCC, provides settlement services for virtually all equity, corporate and municipal debt trades and Money Market Instruments in the U.S. Approximately 1.4 million settlement-related transactions per day, with a value of approximately $600 billion, are completed at DTC in an efficient and risk...
  • What Is the Custody Service?

    DTC’s Custody Service enables participants to outsource the safekeeping and processing of physical securities that are not traditionally eligible for the regular depository services. You can outsource all or part of your physical securities inventory for safekeeping. When Regular Custody Services are used in conjunction with DTC's Branch Deposit Service (BDS), Restricted Deposit...
  • Eligible Assets

      DTC intends to make all appropriate securities eligible for its Custody Service. DTC reserves the right, in its sole discretion to refuse to accept a security or other asset for its Custody Service.Note- DTC compares certificate information with the deposit instruction transmitted by the depositing Participant in the “deposit expectancy file”.Anything that can be...
  • Issues Not Eligible for the Custody Service

    Financial items/documents that are not eligible for the Custody service include: Currency Wills, deeds, insurance Policies, Mortgage papers Terminal output of stock Record positions Tickets/Vouchers for airline Permanent loan certificates IRA Statements Annuities/ Tax...
  • Service Components

      Safekeeping DTC’s Regular Custody Services free you from the cumbersome physical handling of those securities that are not traditionally eligible for DTC processing. Processing withdrawals from inventory, which can include mailing to your customers or branches  Mailing of certificates as instructed Production of customized letters Systemic account number changes Coupon...
  • New York Window

    The New York Window (NYW) allows customers to effect both over-the-window and NSCC & ESS transactions.  Customers can effect deliveries using inventory from their custody vault. The following diagram represents the New York Window business flow. Learn how to: Process deliveries Process receives Inquire about physical settlement transactions Cancel a physical...
  • Restricted Deposits (Restricted Transfers)

    Restricted deposits and their transfer instructions are hand-delivered or sent by FedEx Priority Overnight service to the transfer agent. The following figure shows the general process flow of items through the Restricted Deposits service. The following figure provides a more detailed view of the movement of items through the service.   
  • Getting Started

    Most of your questions about using the Custody service can be answered with the  Custody Conversion Checklist. This spreadsheet outlines the sequence of events that must take place, as well as the party or parties responsible for each step. The following information is planned to help you get on your way using the Custody service: Preparation guidelines System...
  • How do I keep track of my firm’s securities held in DTC’s Custody Vault?

      Participants can track their firm’s securities held in DTC’s Custody vault in two ways:  a)     Using the PBS CUST Inquiry options. b)     The end-of-day Custody Certificate Detail Position File (AIMCDI)
  • Describe DTC’s insurance on inventory held in DTC’s Custody vault.

      DTC carries insurance to cover the costs of replacing certificates lost in transit or on its premise.
  • What is the audit policy for Custody holdings?

      There is no regulatory policy for auditing the vault. The vault is audited once per year.  Given prior notice, DTC will allow a customer access to their inventory to perform a box count, at a cost. The end-of-day Custody Certificate Detail Position File (AIMCDI) can be used as your firm’s “daily audit.”
  • Are there any agreements that will require a signature in order to join a service?

    The only service that will require a signed agreement prior to participating is the Custody Reorg service. All other service documents are a part of the Custody Service Guide, and do not require a signature.
  • Can I obtain copies of the certificates that DTC holds for my firm in Custody?

      Yes, DTC images all certificates it receives for deposit.  Participants who have imaging systems can make arrangements to have their deposit images sent intra-day to their image server. For those firms that do not use imaging technology or choose not to receive all of their images can request copies of individual deposits via the Image Fax/Email (IFE) function accessible via PBS CUST.
  • How are Rush Transfers processed?

    DTC follows-up with the agent the following day, and each day thereafter. Transfer Agent rush fees are passed through to the participant.  DTC processes rush transfer instructions to the agent via express mail on the day of their receipt.

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