DTC Suspends Physical Certificate Processing Due to COVID 19

No Physical Certificate ProcessingDTC Suspends Physical Certificate Processing Due to COVID 19

A quick note to everyone concerning physical certificate processing by DTC.  We received the following notice from DTC after the market closed on Friday March 20th, 2019.  DTC is suspending physical certificate processing due to the Coronavirus until at least March 30th.  Our best estimate is that interruptions to physical certificate processing will continue for a while longer, probably until the Coronavirus outbreak begins to subside.  Based upon our conversations with the medical professionals we know, probably until late April.  This does not impact DRS/DWAC or FAST transfers.

We will post further updates on this topic as information becomes available.

The relevant text of the notice is as follows:

Effective immediately, DTC is suspending all physical processing services until, at the earliest, Monday March 30th due to the impact of the COVID19 virus. DTC requests that Participants and transfer agents should not send certificates via messenger, courier services or USPS to DTC until further notice.

For  packages/certificates that are currently in-flight with couriers or USPS, DTC will have a mechanism to accept them but will be unable to perform any transaction processing.

The suspension of physical processing includes:
• All physical Deposits
• Withdrawal & Certificates on Demand (COD)
• New York Window (NYW)
• Envelope Settlement Services (ESS)
• Custody Reorg
• SBA Pooling

For transactions closing while the suspension of physical processing services is in effect, please follow the LOP procedure set forth in the Important Notice B#13099-20 dated March 12, 2020.

All automated and fully electronic DTC processes with FAST transfer agents such as DRS Profile and DWAC will NOT be impacted.

DTC will continue to monitor the situation and provide Participants and agents with up-to-date information about the status of the physical securities processing services.


If you have any questions about the above blog post, please feel free to visit our web site, www.dtc.coralcapital.com and check out what we have to offer.  Feel free to contact us if you have any questions.  We can be reached at 404-816-9220 and are always willing to speak with you.

About Coral Capital Advisors

Coral Capital Advisors is an independent consulting and advisory firm focused on companies and participants in the lower and middle markets. We partner with our clients to provide cost effective solutions to real world issues and situations. Our experienced team brings a diverse set of skills that allows us to service a wide variety of needs. Our area of services and expertise focuses on bringing services and solutions to our clients that are normally only available to much larger firms. Coral Capital Advisors, LLC. provides services to Investment Banks, Private Equity Funds, investors, and both privately held and publicly traded companies, as well as various stakeholders in those organizations. This has included international public companies with operations on three (3) continents to smaller privately held domestic companies. Our experience in the areas of corporate advisory, due diligence reviews, and regulatory compliance allows for a cost effective and efficient solution to the issues at hand. Please feel free to contact our offices to see how we may be of assistance.