The Depository Trust & Clearing Corporation (DTCC), the premier post-trade market infrastructure for the global financial services industry, announced the successful launch of Rapid Issuance, an innovative service that allows issuers to bring structured notes to the market in a more timely and efficient manner. The service is offered by The Depository Trust Company (DTC), a subsidiary of DTCC.
Rapid Issuance, available within DTC’s cutting-edge Underwriting Central platform, automates the end-to-end issuance creation process, advancing operational efficiency and propelling data quality.
The service has been designed to support the bulk eligibility of equity-linked structured notes, shortening processing time, reducing operational complexity and enabling higher volumes as the asset class continues to grow. With the new process, issuers can complete closings within an hour of security submission, expediting time to market. By combining operational efficiency with an expanded data model, the platform ensures the data accuracy of Corporate Actions announcements, accelerating payment distributions and tax reporting for dividends and principal and interest events.
“We’re excited to see several of our clients are taking advantage of the efficiency and increased automation available within Rapid Issuance,” said Patrick Barthel, Executive Director, DTCC Asset Services. “We look forward to working with additional firms and in providing them with faster, streamlined access to capital markets while significantly reducing operational risk.”
“As issuance models continue to grow in scale and complexity, market infrastructure must evolve alongside them,” said Karen Montbach, Executive Platform Owner – Conventional Trust, BNY. “DTCC’s Rapid Issuance service delivers operational efficiencies by streamlining eligibility processes and enhancing data quality. BNY is pleased to provide clients launching Debt Programs with full Paying Agent support through this service, helping them access debt capital markets with greater speed and efficiency.”
“Rapid Issuance represents an important step forward in modernizing how structured notes are brought to market,” said Brian Miller, Director, Global Banking New Issues, UBS. “The ability to establish securities’ DTC eligibility in advance of issuance and execute bulk issuances on settlement day provides greater flexibility, efficiency, and operational certainty. Continued innovation through DTCC’s Underwriting Central supports the evolving needs of issuers and dealers operating in increasingly dynamic markets.”
“With the launch of Rapid Issuance, DTCC is reaffirming its ongoing commitment to delivering innovative, resilient, and client-centric solutions,” Barthel continued. “By digitizing and automating core processes, we are delivering greater speed, transparency, and efficiency to our clients and the broader market.”
