DTC
Processing
What is a DTC Transfer?
A DTC transfer allows you to transfer DTC eligible shares from one
brokerage account to another brokerage account. Each firm has
a unique DTC number which you must provide to the sending firm.
What is your DTC participant number?
Our clearing firm's DTC participant number is 0234. You will
need to also provide the sending firm your account name and account
number as well.
What are the advantages of
processing shares electronically as opposed to depositing a physical
certificate?
Processing shares electronically can save on time, fees and risks
associated with a lost certificate.
Do I need pre-approval to
deposit shares into my acount via a DTC trasnfer?
Yes. You will first need to make contact with a
broker here and discuss the details of your transaction. The
broker will have you complete an Equity Deposit Questionnaire or the
Quick Facts Questionnaire. See Guidelines for Depositing OTC
Securities. Once our compliance department has approved your
transaction you can then open an account, or if you have one already
open, you will be given authority to request the DTC from the sending
firm.
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