Welcome to the Fast Automated Securities Transfer (FAST) Membership Section
If you are interested in learning more about the Fast Automated Securities Transfer (FAST) program or have plans to apply for membership, bookmark this page so that you can refer to it, when necessary. In this section, members can learn about the steps that you can expect to complete during the onboarding process.
The Fast Automated Securities Transfer (FAST) program 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 several agents and a few hundred issues. 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 it plays a significant role in reducing costs associated with shipping certificates to and from agents as well as costs related to printing and processing certificates. The FAST program does not apply to money market instrument (MMI) securities.
How this Program Works
Agents establish access to the DTC 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. DTC assigns new FAST agents a FAST transfer agent number.
While debt issues are added upon request, all equity issues undergo an application review process. Upon approval, DTC sends the inventory to the agent for cancellation and provides instructions about adding the security to the FAST balance. As required by the FAST Balance Certificate Agreement, the agent must create a balance certificate representing the FAST balance position for each security.
This section outlines the steps toward becoming a FAST member. It is divided into the following three parts:
- Part One: Becoming DTC-Eligible [required]
- Part Two: Applying for FAST Membership [required]
- Part Three: Using FAST Membership Optional Services and Retirement instructions [optional]
DTC Operational Arrangements
This document is filed with the regulators and is the governing document for DTC participation – eligibility and asset servicing. Use this document to access numerous exhibits and documents, such as Riders, Letters of Representation (LOR), Operational Arrangements (OA) Agent Letter, and schedules.
- DTCC's Financial Industry Numbering Standard (FINS) Form
Request to Become a DTC-Eligible Transfer Agent
This link contains a sample letter that you can use to give permission to DTC to add your company as a transfer agent.
Request to Complete US Tax Form
This document provides links to the relevant tax forms that you must complete. For U.S. entities, you must complete the W-9 tax form. For non-U.S. entities, you must complete the W-8 tax forms.
Applying for FAST Membership
DTC-eligible agents interested in becoming a DTC FAST agent must fulfill the requirements listed below. After completing these requirements, the application is reviewed and the transfer agent is notified of their FAST agent eligibility status.
FAST Requirements for DTC-Eligible Transfer Agents
The FAST Requirements document explains exactly what DTC requires of transfer agents when submitting the necessary forms to register for and participate in DTCC’s FAST program.
Balance Certificate Agreement
By signing this agreement, a transfer agent acknowledges that they are required to issue a physical securities certificate each day in DTC’s nominee name, Cede & Co., for the entire position of each security they are holding for DTC in a FAST balance account.
Operational Criteria for FAST
In this document, DTC outlines exactly how FAST transfer agents must process transactions that either increase or decrease the FAST balance accounts. The document includes Shipment Control Lists (SCLs) and rejected transaction processing instructions, transfer turn-around time, daily FAST balance confirmations, handling securities where the FAST transfer agent is not the paying agent, and hot to use the DTC systems.
Key Elements of Insurance
This document states the form and content of the insurance letter for the FAST Balance Agreement.
ANIRA User Guide
This guide provides transfer agents with step-by-step detailed instructions for downloading and setting up the AT&T Global Network Client Managed VPN. ANIRA provides you with a secure, high speed broadband connection with DTC.
DTCC ANIRA Connection Request
Complete this form to apply for a DTCC ANIRA connection. Email the completed form to the contact information provided on the form.
FAST agents are required to designate at least one super access coordinator, a person responsible for requesting access to DTC functions and entitlements on behalf of other employees. To establish a super access coordinator account for DTCC systems, applications, products, and services or view the request form needed for PTS functions and entitlements, see:
Super Access Coordinator Authorization Form
A super access coordinator is the designated people in your firm that can assign various DTC functions to your staff. After completing the entire form according to the instructions, email it to the contact information provided on the form.
Mainframe User ID Request Form
Use this form to add, reinstate, revoke, or delete user IDs and functions for your staff to electronically access DTC.
FAST Membership Optional Services and Retirement
Deposit/Withdrawal at Custodian (DWAC) Agreement
For DTC retirement instructions for FAST transfer agents, see the following sample letter:
Retiring a FAST Account
This sample letter notifies DTC to retire the account of a FAST transfer agent and Direct Registration System/Limited Participant Account (DRS/LPA) holder. Ensure the letter is typed on the letterhead of the retiring transfer agent’s firm.