The FAST Program

The Fast Automated Securities Transfer Program (FAST) is a contract between DTC and transfer agents whereby FAST agents act as custodians for DTC.

• The FAST Program

  The Fast Automated Securities Transfer Program (FAST) is a contract between DTC and transfer agents that eliminates the movement of physical securities by allowing agents to act as custodians for DTC. The FAST program was introduced in 1975 with a few hundred issues and several agents. Today, there are over 100 agents with over 1.1 million issues valued at over $41 trillion.

  The FAST program facilitates the industry’s dematerialization efforts and plays a significant role in reducing the costs associated with shipping certificates to and from agents as well as those related to printing and processing certificates. The FAST program does not apply to MMI securities.

• How the Program Works

  Agents establish access to DTC’s system through PTS/PBS or ANIRA. This access is required for daily balancing of FAST positions as well as confirming transactions made into and out of DTC’s FAST balance. New FAST agents will be assigned a FAST transfer agent number by DTC.

  Requests to add DTC-eligible securities to the FAST program should be directed to the FAST Implementation mailbox at [email protected]. All requests should include the security's CUSIP and the applicable FAST agent number. While debt issues are added upon request, all equity issues undergo an application review process. Upon approval, DTC will send the inventory to the agent for cancellation and will provide instructions about adding the security to the FAST balance. The agent (as required by the FAST Balance Certificate Agreement) must create a balance certificate representing the FAST balance position for each security. 

  FAST Agent Application Process and Requirements

  For agents interested in becoming a FAST agent, please see the How to Become a FAST Agent Guide and the referenced documents below. Once these requirements have been fulfilled, the application will be reviewed and the agent will be notified of the status. To obtain further information about DTC’s requirements, please email [email protected].

  • Operational Criteria for FAST
  • Key Elements of Insurance
  • Deposit/Withdrawal at Custodian (DWAC) Agreement (optional)

  DTC Balance Certificate Agreements

  • WC-NC Standard
  • WC-CTA (Self-TA)
  • WC-PROC

  Connectivity to DTC

  There are various communication protocols to establish connectivity with DTC, including mainframe and via broadband Internet. Typically, large and medium-size agents elect mainframe connection while smaller agents elect broadband Internet connection to DTC. ANIRA facilitates access to DTC's systems via broadband Internet connection. The details needed to connect to DTC through ANIRA are referenced below. Agents interested in establishing mainframe connection should send an email request for further details.

  • ANIRA User Guide
  • ANIRA Connection Request

  System Access

  FAST agents are required to designate a Super Access Coordinator who is responsible for requesting access to DTC functions and entitlements on behalf of other employees at the agent.

  FAST Issue Eligibility

  A FAST transfer agent can request a DTC-eligible security to be added to the FAST program by submitting a request to the FAST implementation mailbox at [email protected] to initiate the application process.

  Optional Services

  Existing FAST transfer agents interested in opening a Direct Registration System / Limited Participant Account (DRS / LPA) should send an email request to mailbox [email protected] to obtain further information about DTC requirements.

  FAST Agent Retirement

  DTC retirement instructions for FAST transfer agents can be found within the form below.

  • Retiring a FAST Account

  Specific client support e-mail addresses are listed in the Client Center.