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. 

FAST Program

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.

To add DTC-eligible securities of the FAST program to the FAST Implementation, direct requests to This email address is being protected from spambots. You need JavaScript enabled to view it.. Include the security's CUSIP and applicable FAST agent number in all requests.

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]

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. 

FAST Program

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.

To add DTC-eligible securities of the FAST program to the FAST Implementation, direct requests to This email address is being protected from spambots. You need JavaScript enabled to view it.. Include the security's CUSIP and applicable FAST agent number in all requests.

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]

Part One

Becoming DTC-Eligible

Agents interested in becoming DTC-eligible must complete and sign the documents referenced below, and then email them to This email address is being protected from spambots. You need JavaScript enabled to view it.. After the required documents are completed, a DTC representative contacts the agent to finalize the request.

• default 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.

•   default DTCC's Financial Industry Numbering Standard (FINS) Form  
  

  Financial Industry Numbering Standard (FINS) are the industry-wide numerical identification system for banks, broker/dealers, insurance companies, mutual funds, and other institutions engaged in securities transactions. A FINS number is required when filing this form with the Securities Information Center (SIC), which maintains a central database of lost and stolen securities. FINS numbers are also used by DTC for the initial public offering (IPO) tracking process. FINS numbers are assigned by DTCC. If an institution is uncertain as to whether it has a FINS number, contact This email address is being protected from spambots. You need JavaScript enabled to view it.. If an institution has NOT been assigned a number, complete all sections of the DTCC’s Financial Industry Number Standard (FINS) form. After completing this form, submit it by fax or email it to the contact information provided on the form. There is a $50 setup fee to process a FINS number.

•   default 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.

•   default 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.

Part Two

Applying for FAST Membership

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Step One: FAST Agent Application Process and Requirements

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.

•   default 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.

•   default 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.

•   default 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.

•   default Key Elements of Insurance
  

  This document states the form and content of the insurance letter for the FAST Balance Agreement.

Step Two: Connectivity to DTC

There are various communication protocols to establish connectivity with DTC, including mainframe and broadband Internet. Typically, large and medium-size agents elect for the mainframe connection while smaller agents elect for broadband Internet connection to DTC. AT&T Network-Based IP VPN Remote Access (ANIRA) facilitates access to DTC's systems through a broadband Internet connection. The details needed to connect to DTC through ANIRA are referenced below. For more information about establishing a mainframe connection, send an email request to This email address is being protected from spambots. You need JavaScript enabled to view it..

•   default 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.

•   default 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. 

Step Three: System Access

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:

•   default 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. 

•   default 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.

Step Four: FAST Issue Eligibility

FAST transfer agents initiate the application process for a DTC-eligible security to be added to the FAST program by submitting a request to the FAST implementation at This email address is being protected from spambots. You need JavaScript enabled to view it..

Part Three

FAST Membership Optional Services and Retirement

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Direct Registration System/Limited Participant Account (DRS / LPA)

To obtain further information about DTC requirements, existing FAST transfer agents interested in opening a Direct Registration System/Limited Participant Account (DRS/LPA) should send an email request to This email address is being protected from spambots. You need JavaScript enabled to view it..

Deposit/Withdrawal at Custodian (DWAC) Agreement

•   default Deposit/Withdrawal at Custodian (DWAC) Agreement

  DWAC is a system used by DTC clients to send electronic requests to FAST transfer agents, requesting that they either deposit or withdraw securities from the DTC FAST balance account. Transfer agents use the system to approve or reject the transaction. In this agreement, the FAST transfer agent agrees to DTC’s terms of use of the DWAC system.

FAST Agent Retirement Instructions

For DTC retirement instructions for FAST transfer agents, see the following sample letter:

•   default 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.