Bulk Transfer

Support the expedited transfer of customer accounts and assets from a financially distressed carrying broker-dealer to a new carrying broker-dealer.
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Bulk Transfer Initiative

Ensuring Stability During Distress

When a broker-dealer faces financial distress, customer access to assets can be disrupted, especially if regulatory intervention by the Securities Investor Protection Corporation (SIPC) becomes necessary. In such cases, customer assets may be frozen, leading to delays and uncertainty. 
 
To mitigate this risk, DTCC, in collaboration with the Securities Industry and Financial Markets Association (SIFMA) and the broker-dealer community, developed the Bulk Transfer Initiative in 2018. This framework enables the immediate mass transfer of customer accounts and assets from a distressed carrying broker (i.e., self-clearing, clears for others) to a financially stable one, ideally before SIPC intervention is required.  
 
This initiative enhances customer protection through standardized processes, governance structures, data templates and operational guidelines that enable firms to quickly respond. It allows firms to prepare in advance, ensuring readiness to act quickly and maintain uninterrupted customer access to assets. The Bulk Transfer Playbook supports firms in tailoring their own internal procedures and may be used as part of broader contingency planning.

  • Established

    Established in 2018 with SIFMA leadership and the broker-dealer community to support emergency mass transfer readiness.

  • -Stage Process

    Supports a four-stage process: Preparation, Pre-Transfer, Transfer and Post-Transfer.

Data as of Q3 2026

Key Features & Benefits

Streamlines Execution

Enables firms to carry out bulk transfers of assets between brokers more efficiently using standardized processes and data formats.

Faster Customer Access

Ensures that customers regain access to their assets quickly in the event of a broker’s financial distress.

Time-Saving Preparation

Allows firms to complete their own Broker-Dealer Profile in advance using centralized resources and templates.

Regulatory Alignment

Helps firms maintain compliance throughout the transfer process using established governance structures and communication protocols.

Contingency Planning Support

Contingency planning support allows firms to incorporate the Bulk Transfer Playbook into broader resolution strategies for enhanced emergency preparedness.

Who Can Use This Service

Broker-Dealers

For broker-dealers that carry customer accounts, the Bulk Transfer Initiative helps prepare for emergency transfers of client assets and accounts.

Resources