DWAC

Direct Registration System: Electronic Holding of Securities
The Direct Registration System (DRS) is an electronic method of recording securities ownership without physical certificates, often used alongside Deposit/Withdrawal At Custodian (DWAC).
DTC (Depository Trust Company): What Is It?
A comprehensive guide to the Depository Trust Company (DTC) and its role in the financial industry, including its infrastructure for the DWAC system.

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