Secondary Market Eligibility

DTCC’s Secondary Market Eligibility program empowers participants to easily request eligibility for previously issued outstanding securities that have not yet been registered in the Depository Trust Company (DTC)’s depository and book-entry services. Designed for efficiency, this program simplifies the integration of older securities into DTC’s system, accelerating market operations and supporting seamless transactions.

• About

  Through the Secondary Market Eligibility program, DTC Participants can quickly submit eligibility requests for older issue securities. Upon approval, Eligible securities become fully accessible for DTC’s comprehensive suite of depository and book-entry services to leverage fast and cost-effective electronic book-entry delivery and settlement, helping Participants stay ahead in a dynamic marketplace.

• Who Can Use the Service

  Any underwriters, investors, or other market participants that are registered as DTC Participants can access this service.

• Benefits

  The integration of DTC’s services for issued and outstanding securities drives innovation in capital market operations by streamlining distribution, settlement, and servicing through advanced automated processes. Leveraging DTC’s straight-through processing delivers a forward-thinking approach that reduces costs, increases operational efficiency, and minimizes industry risk through robust automation and standardized workflows.

• How the Service Works

  DTC Participants who are looking to submit a request under the Secondary Market Eligibility program must complete and submit the following documentation to DTC’s Underwriting department:

  • Older Issue Eligibility Questionnaire
  • Copy of the physical certificate(s) for the securities, with the S&P CUSIP number clearly visible
  • Agent Attestation form

  Additionally, DTC may also require a legal opinion and/or additional documentation as deemed necessary. Applicants must also pay a non-refundable eligibility review fee regardless of the eligibility outcome. (See DTC Fee Guide)

• For More Information

  To request additional information, please visit the Client Center.