DTC to Resume Physical Certificate Processing

Stock Certificate

DTC to Resume Physical Certificate Processing

DTC announced late Wednesday March 26th, that it was set to resume physical certificate processing on Monday March 30th.  On Friday March 20th, DTC announced it was suspending physical certificate processing due to the COVID 19 virus.  Based upon conversations with our DTC contacts, it looks like a couple of people within the vault area tested positive for the COVID 19 virus on Friday of last.  It is our understanding that DTC already has as many people as possible working from their homes.  We should expect that there could be additional interruptions at DTC as the Coronavirus continues.

The relevant text of the notice is as follows:

Effective Monday, March 30, 2020, DTC will resume physical certificate processing services on a limited basis due to COVID-19 constraints. Accordingly, Participants and Agents should expect extended processing time frames for physical securities processing until further notice. See Important Notice 13031-20, posted March 11, 2020. All other DTC services remain BAU.

Once DTC resumes physical processing services, DTC will prioritize and process the transactions and certificates received by DTC during the week of March 23, 2020. DTC will make exceptions for date-sensitive events.

To allow DTC time to process the previously submitted transactions and certificates, Participants and Agents should not submit any new physical securities transactions until March 31, 2020. Once DTC begins accepting new physical securities transactions, DTC estimates the following extended processing times:

• Deposits – Cede & Co credit, up to 3 business days.
• Withdrawals – Physical withdrawals, up to 3 business days.
• Certificates on Demand (COD) – No Same Day requests. All requests must be submitted as Next Day but will be processed up to 3 business days.
• Custody Transfers – up to 3 business days.

The following physical securities activities will be processed on a case-by-case/best-efforts basis:

• Envelope Settlement Services (ESS).
• Custody Reorg SBA Pooling Activities.

Note: International ESS (IESS) will remain suspended due to CDS Window closure. Once CDS window reopens we will reassess our support of this service and advise accordingly.

Effective Monday, March 30, 2020, Underwriting will begin accepting packages for all future closings. For transactions closing on Monday, please


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.