DTCC reaches agreement with industry group on soaked securities
The Depository Trust & Clearing Corporation (DTCC) today announced that is has come to an agreement with representatives of the Securities Transfer Association (STA) on the protocol for the presentment of evidence of ownership in lieu of physical certificates which are currently inaccessible in DTCC's 55 Water Street offices.
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The agreement balances the needs of the transfer agents and issuers, while facilitating DTCC's ability to efficiently continue physical processing on behalf of the industry while its vault inventory is inaccessible.