There are several benefits to the DWAC/DRS and FAST System. They include faster processing and deposit times, lower transfer and issuance costs, and the elimination of lost certificate issues.

• Direct Registration (DRS System):
  Shareholders can deposit their shares directly into the DTC DRS system at the Depository Trust Clearing Corporation (DTC).
• Deposit/Withdrawal at Custodian (DWAC):
  Shareholders can send their physical certificates to the transfer agent to be converted into electronic book entry and deposited directly at the broker/dealer.

The primary difference is that the DWAC System requires a Medallion Signature Guaranteed Stock Power, whereas the DTC DRS System deposits are paperless.

Each issuer must be approved and accepted by DTC to become a DTC FAST/DRS eligible issuer. Because DTC is strictly regulated by the SEC, US Treasury, and Federal Reserve, it must comply with multiple regulations in approving issuers. With this obligation, DTC has the right to not provide an explanation of why an issuer is rejected.

Mountain Share Transfer can assist your company in obtaining approval for the DTC DRS System and FAST/DWAC Services. Please feel free to contact our offices for additional information on how we may be of service.

Additional information on the Depository Trust Clearing Corp. ‘DTCC’ Direct Registration System (DRS System) and Fast Automated Securities Transfer (FAST) electronic securities transfer programs can be found at the DTCC website.