A Deliver Order (DO) is a book-entry movement of shares of a particular security between two DTC
participants. The delivery program allows you to settle securities transactions by making book entry
deliveries to another participant's account. The securities are immobilized in DTC's custody, eliminating
the need for physical movement of certificates. DTC reduces the deliverer’s position and increases the
receiver’s position without the need to move physical certificates. Deliveries can be made with or without
the condition of money payment, depending on your delivery instructions. Once you enter a deliver order,
it is routed for processing unless you have established secondary approval.
This function allows you to input instructions to deliver securities from your account to another DTC participant via
book-entry. Submitting a DO does the following:
Checks if you have a secondary transaction approval profile in place for the delivery and routes accordingly
Adds the delivery to the receiver’s Receiver Authorized Delivery (RAD) queue as applicable
Adds the delivery to the Money Market Instrument (MMI) Issuance queue awaiting issuance of the MMI item (turnaround DO's only).
Validates the delivery against risk management controls
Validates the delivery against net position in your general free account
Reduces your general free account if the position is available, pends the transaction if the position is not available, or drops the transaction if the position is not available and Prevent Pend was requested
Increases the receiving Participant's general free account
Updates the settlement (dollar) amounts accordingly
Supports straight-through processing of Depositary Receipt cancellations/release of ordinary shares by using a valid reason code.
For more information, refer to Pending Activity and Risk Management Controls Inquiry.
When Participants submit Deliver Orders by the cutoff required times, they are generally settled that day (unless it is a future dated deliver order). Refer to the Settlement Service Guide to confirm the most recent cutoff times and see the processing schedule in which settlement occurs.
These cutoff times are subject to extension by DTC's Settlement department.