DWAC Transfer / DWAC FAST
DWAC (Deposit/Withdrawal at Custodian) enables electronic securities transfers between brokers and transfer agents in hours instead of weeks. VStock Transfer is a DTC-authorized FAST agent serving public companies, pre-IPO issuers, brokers, and shareholders who need rapid, compliant share movement for secondary trading, PIPE transactions, and capital raises.
DWAC Transfer at a Glance
Settlement time
Same-day processing compared with multiple weeks for physical certificates.
Transaction volume
DTC processes approximately $600 billion in settlement-related transactions each day through DWAC and related services.
Cost reduction
Electronic processing eliminates physical certificate printing, courier, handling, and replacement expenses.
Error reduction
Electronic records minimize errors associated with manual processing and physical certificate handling.
VStock processes DWAC transactions through DTC’s FAST program, eliminating unnecessary physical certificate movement and reducing settlement risk. Our team handles deposits, withdrawals, and DRS transfers for more than 800 issuer clients across NYSE American, NASDAQ, and OTC Markets.
What Is DWAC Transfer / DWAC FAST?
DWAC, or Deposit/Withdrawal at Custodian, is a process created by the Depository Trust Company that allows brokers and custodial banks to electronically instruct deposits and withdrawals of shares directly through a FAST transfer agent.
The FAST system eliminates the movement of physical securities registered in the name of DTC’s nominee, Cede & Co. According to the Depository Trust & Clearing Corporation, DTC processes approximately $600 billion in settlement-related transactions per day and provides centralized record-keeping for securities valued at $37.2 trillion.
Key Benefits of DWAC
Speed
Transactions can settle on the same day instead of taking several days or weeks through physical certificate processing.
Cost
DWAC eliminates printing, mailing, courier, and handling expenses associated with physical stock certificates.
Security
Electronic processing reduces the risk of certificates being lost, stolen, or damaged during transit.
Liquidity
Shares can be sold or transferred after the electronic transaction has been completed.
When Is DWAC Transfer / DWAC FAST Required?
DWAC is required when shares need to be moved electronically between a brokerage account and the issuer’s transfer agent. Common use cases include:
Secondary Market Trading
Broker-dealers need rapid settlement for investor purchases and sales on NYSE American, NASDAQ, and OTC Markets.
PIPE Transactions
Private Investment in Public Equity transactions require fast, compliant share delivery to institutional investors.
Capital Raises
New share issuances must be distributed to investors efficiently without delays associated with physical stock certificates.
Share Deposits
Shareholders use DWAC when moving shares represented by physical certificates into brokerage accounts for trading.
Share Withdrawals
Investors can use DWAC when withdrawing broker-held positions through the issuer’s transfer agent.
IPO Distributions
Companies going public need to distribute shares to underwriters and initial investors rapidly and efficiently.
How VStock Handles DWAC Transfer / DWAC FAST Efficiently
VStock processes DWAC and FAST transactions electronically through DTC, delivering measurable improvements in settlement speed, cost, security, and processing efficiency.
Settlement speed
Same-day electronic processing replaces the multi-week delivery and processing cycle associated with physical certificates.
Processing window
Participants can submit DWAC requests until 5:15 p.m. Eastern Time each business day. The cutoff is documented by the Depository Trust & Clearing Corporation.
Cost elimination
Electronic processing eliminates physical certificate printing, courier, handling, and certificate replacement expenses.
Risk reduction
Electronic records eliminate the possibility of physical stock certificates being lost, stolen, or damaged during transit.
As one of more than 800 issuers served by VStock Transfer, your company benefits from our experience processing thousands of DWAC transactions across NYSE American, NASDAQ, and OTC Markets listings.
Frequently asked questions
Start a DWAC Transfer
Contact VStock Transfer for assistance with DWAC deposits, withdrawals, eligibility, documentation, and transaction pricing.
Phone: 212-828-8436
Email: info@vstocktransfer.com