GUIDE TO
THE 2024
DTC FEE
SCHEDULE
DTCC Public (White)
DTCC Public (White)
Contents
Contents
How to Use This Guide .......................................................................................................................................................... 1
Account Fees......................................................................................................................................................................... 2
General .....................................................................................................................................................................................................................2
Direct Registration System (DRS) .............................................................................................................................................................................2
Account Fees .........................................................................................................................................................................................................2
Prole Insurance Program .....................................................................................................................................................................................2
Prole Surety Program ...........................................................................................................................................................................................2
Credits and Adjustments........................................................................................................................................................ 3
Adjustments ...........................................................................................................................................................................................................3
Custody and Securities Processing ....................................................................................................................................... 4
Securities Processing ................................................................................................................................................................................................4
Maintenance of Long Position (Registered Securities) .......................................................................................................................................... 4
General Asset Services ..........................................................................................................................................................................................5
Municipal Bearer Bond Service ..............................................................................................................................................................................5
Corporate Actions ......................................................................................................................................................................................................6
Allocation Fees ......................................................................................................................................................................................................6
Instruction Processing Fees ...................................................................................................................................................................................7
Voluntary Event Handling Fee ...............................................................................................................................................................................7
Treasury Shares ..................................................................................................................................................................................................... 7
Corporate Actions Physical Processing .................................................................................................................................................................7
File Fee ..................................................................................................................................................................................................................7
Agent Fees .............................................................................................................................................................................................................7
Custody Services ......................................................................................................................................................................................................8
All Services ............................................................................................................................................................................................................8
Custody (Core Services) ........................................................................................................................................................................................8
Custody (Non-Core Services) ................................................................................................................................................................................9
DTCC Public (White)
Custody (Exception Processing) ............................................................................................................................................................................9
Deposit Services .......................................................................................................................................................................................................9
Branch Deposits (Core Services) ...........................................................................................................................................................................9
Branch Deposits (Non-Core Services) ...................................................................................................................................................................9
Branch Deposits and Deposit Automation Management (DAM) (Exception Processing) ...................................................................................... 9
Deposit Automation Management (DAM) ............................................................................................................................................................10
Legal Deposits .....................................................................................................................................................................................................10
Municipal Bearer Bond Service ............................................................................................................................................................................10
Reorganization Deposits ......................................................................................................................................................................................10
Restricted Deposits .............................................................................................................................................................................................. 10
New York Window Services (including Envelope Settlement Service, Intercity Envelope Settlement Service, Funds-Only Settlement Service,
Dividend Settlement Service) .................................................................................................................................................................................. 11
Other Services ..................................................................................................................................................................................................... 11
Reorganization Services ......................................................................................................................................................................................... 11
Reorganization ..................................................................................................................................................................................................... 11
Withdrawal Services ................................................................................................................................................................................................ 11
Direct Registration System (DRS) ....................................................................................................................................................................... 11
Interface Department ...........................................................................................................................................................................................12
Urgent Withdrawal, or Certicates-on-Demand, or Withdrawal by Transfer ........................................................................................................ 12
Failure-to-Settle Charges .................................................................................................................................................... 13
Global Tax Services ............................................................................................................................................................. 14
DTC TaxRelief .........................................................................................................................................................................................................14
US Tax Withholding Service .................................................................................................................................................................................... 14
Tax Event Announcements ......................................................................................................................................................................................15
Membership and Pledgee Application Fees ........................................................................................................................ 16
General ...................................................................................................................................................................................................................16
Participant Output Services ................................................................................................................................................. 17
Network Services ....................................................................................................................................................................................................17
Participant Terminal System.................................................................................................................................................................................17
Settlement Services............................................................................................................................................................. 18
Book-Entry Delivery, Excluding MMIs .....................................................................................................................................................................18
DTCC Public (White)
Deliver order exception processing ......................................................................................................................................................................18
Canadian Dollar Settlement ....................................................................................................................................................................................18
Collateral Loans ......................................................................................................................................................................................................19
Money Market Instruments (MMI) by Book Entry Only ...........................................................................................................................................19
Payment Order Service ........................................................................................................................................................................................... 19
Settlement Progress Payment (SPP) ...................................................................................................................................................................... 19
Sub-accounting .......................................................................................................................................................................................................19
Settlement Reporting ..............................................................................................................................................................................................19
Other .......................................................................................................................................................................................................................20
SMART/Track Services ....................................................................................................................................................... 21
Underwriting Services.......................................................................................................................................................... 22
Eligibility Fees .........................................................................................................................................................................................................22
Eligibility Surcharges ............................................................................................................................................................................................... 23
Late Surcharges ...................................................................................................................................................................................................... 23
Money Market Instruments ......................................................................................................................................................................................24
Other Underwriting Services ...................................................................................................................................................................................24
Web Fees ............................................................................................................................................................................ 25
Legal Notice System (LENS) ...............................................................................................................................................................................25
Matching Utility Status Information ......................................................................................................................................................................25
Rebate Policy ...................................................................................................................................................................... 25
DTC Glossary ...................................................................................................................................................................... 26
Guide to the 2024 DTC Fee Schedule >> 1
Effective July 29, 2024
DTCC Public (White)
How to Use This Guide
This guide presents in a readable format information contained in the Rules, By-Laws and Organization Certicate of The Depository Trust
Company. Related processing fees are organized alphabetically by type of fee.
The guide is designed to be used primarily in electronic form so that users may easily reconcile their accounts in conjunction with DTCC’s
electronic billing system. An underlined entry is a link to either an internal cross-reference or to an entry in the glossary at the end of the guide. The
guide can be printed on hard copy, however, the information may not be as easily usable in that format as it is electronically.
Guide to the DTC Fee Schedule >> 2
DTCC Public (White)
Account Fees
FEE NAME AMOUNT ($) CONDITIONS FEE ID
General
Participant account 760.00 Per month per account, rst ve accounts 215
Additional participant account or IPA account 330.00 Per month per account, each account over ve 159
Pledgee account (participant) 330.00 Per month per account, in addition to monthly charges 201
Pledgee account (nonparticipant) 570.00 Per month per account 208
Direct Registration System (DRS)
Account Fees
DRS LPA 275.00 Per month per account 412
DRS LPA application fee 250.00 Per application 501
Prole Insurance Program
Purchase of DRS Prole Modication System
indemnity insurance
DTC administrative cost 250.00 Per year 165
Insurance transaction fee 2.50 Per transaction, $0.01 up to $25,000,000 per event
($100,000,000 in the annual aggregate); includes Surplus Lines
Tax. Pass-through fee also charged.
640
Pass-through fee 25.00 Per insurance transaction (plus insurance transaction fee) 647
Prole Surety Program
Purchase of surety coverage At cost As provided by Travelers. Alternative coverage may be
obtained as long as the surety bond is consistent with that
provided by St. Paul.
502
DTC administrative cost 250.00 Per year 165
Guide to the DTC Fee Schedule >> 3
DTCC Public (White)
Credits and Adjustments
FEE NAME AMOUNT ($) CONDITIONS FEE ID
Adjustments
LOC allocation Varies Amount based on a legal entity’s proportional share of the cost
of DTC’s line of credit for the current month
680
Guide to the DTC Fee Schedule >> 4
DTCC Public (White)
Custody and Securities Processing
FEE NAME AMOUNT ($) CONDITIONS FEE ID
Transfer Agent Charges Varies
Chargeback of fees charged by the transfer agent, plus
$1.00 transaction fee; Applies to cancellation and issuance of
certicates of certain issues
513
Securities Processing
Maintenance of Long Position (Registered
Securities)
Active issue 0.50 Per issue per month, as follows:
• For registered corporate issues, when a daily average
of more than 15 participants have position
• For registered municipal issues, when a daily average
of more than 2 participants have position
154
Less active issue 0.70 Per issue per month, as follows:
• For registered corporate issues, when a daily average
of 15 or fewer participants have position or registered
municipal issues, when a daily average of 1 or 2
participants have position
304
Average daily number of shares (stocks, bonds
and registered muni) rounded up to a multiple of
100 shares
Per share, as follows (excludes book entry only, medium-term
notes, money market instruments, commercial paper, Fed-
eligible issues, and municipal bearer bonds):
260
0.00003009
0.00000753
0.00000378
0.00000029
• First 0 to 25 million shares
• Excess over 25 million up to 200 million shares
• Excess over 200 million up to 300 million shares
• Excess over 300 million shares
Note: Tiered pricing levels are based on an aggregate of
shares
positions and bond positions with a conversion rate of $4,000
bond face value equivalent to 100 shares.
BEO issue (stocks, bonds and registered muni) 0.15 Per issue per month 113
Medium-term note, money market instrument,
registered muni and commercial paper
0.60 Per issue per month 257
Stock, bond and muni that have been
nontransferable for up to 6 years (surcharge)
0.20 Per issue per month 119
Stock, bonds and muni that remain
nontransferable after 6 years (surcharge)
11.00 Per issue per month 375
Swing of security position (receive or deliver
(including stock dividend deliver))
0.20
Per CUSIP instruction payable by each participant account;
applies to swing of position from one participant account to
another resulting from merger
271
Guide to the DTC Fee Schedule >> 5
DTCC Public (White)
FEE NAME AMOUNT ($) CONDITIONS FEE ID
Fed-eligible issue 1.00 Per issue per month 585
Frozen letter deliver, receive or reject 10.00 Per item 607
Low value–high share position fee (surcharge) 5.00 Per month for positions held on CUSIPs that at the close
of business on the second Monday of the month, have an
aggregate DTC position of 500 million shares or greater and a
share price of $0.01 or less.
688
General Asset Services
ADR Custodial Fee (Pass Thru) Varies Per share fee, typically $0.02 per year, as determined by the
ADR depositary bank Fee can be divided (ex. $0.01 and $0.01)
at the discretion of the depositary bank
222
Imaging
Request to display/download an Image 5.50 Per request 347
Monthly imaging subscription fee for agents 1,000.00 Per month 594
Monthly imaging subscription fee for
participants
500.00 Per month 595
Image drop box initiation fee 1,000.00 One-time initiation fee 686
Asset servicing self-service inquiry 55.00 Per inquiry 650
Password reset 100.00 Per password reset 687
Municipal Bearer Bond Service
Long position for municipal bearer bonds,
including interchangeable bonds
Active issue 0.85 Per issue per month, when a daily average of more than 2
participants have position
588
Less active issue 1.70 Per issue per month, when a daily average of 1 or 2
participants have position
153
Face value Per month on amounts, as follows: 100
0.000006790
0.0000016988
0.0000008402
0.0000004201
First $0 to $0.5 billion
Next $0.5 billion to $1 billion
Next $1 billion to $8 billion
Excess over $8 billion
Guide to the DTC Fee Schedule >> 6
DTCC Public (White)
FEE NAME AMOUNT ($) CONDITIONS FEE ID
Positions in certicates bound in a book
(surcharge)
1.05 Per position per month, in addition to the per issue (active or
less active) charge
380
Positions requiring coupon collection
(surcharge)
0.25 Per issue per month, in addition to the per issue (active or less
active) charge; applies to issues with coupons collected from
paying agents outside the New York metropolitan area
377
Positions in multiple-purpose issues (surcharge) 0.50 Per issue per month, in addition to the per-issue (active or less
active) charge
381
Corporate Actions
Allocation Fees
Cash Dividend 1.80 Per credit for cash, pro-rata principal and interest payment for
the following:
• Conforming structured securities
• Equity securities
• CD
• Floating payable date security (ARP, ARN)
• Non-conforming structured securities (ABS/CMO)
• P&I non-conforming securities
• MMI
• Registered municipal issues
• VRDO
• Muni bearer interest payment
• Equity Units
704
Stock Dividend 13.75 Stock Distributions (including stock dividends, stock splits,
spinoffs and dividend reinvestment allocations)
705
Redemptions 17.00 Per allocation for the following:
• Full call
• Partial call
• Maturity
706
Mandatory Corporate Actions 80.00 Mandatory exchanges, including mandatory puts, name
changes/swings and sale of Rights per participant position
707
IVORS 2.00 Per redemption, sale or transaction 708
Stock, Loan, Repo & Fail Adjustments 1.50 Per credit and debit; also, for certain CMO and ABS
transactions resettled with correct factor, through CTAS via
PTS or PBS
709
ClaimConnect
TM
Matching Fee 1.75 Per each claim side, after match 710
Guide to the DTC Fee Schedule >> 7
DTCC Public (White)
FEE NAME AMOUNT ($) CONDITIONS FEE ID
Instruction Processing Fees
Corporate Action Instruction Fee 11.50 Per voluntary and elective EDS/DRP instruction, up 50
instructions per offer
777
Voluntary Event Handling Fee
Voluntary Corporate Action Handling 90.00 Per each voluntary corporate event 714
Treasury Shares
Treasury Shares Adjustments 25.00 Per adjustment prior to dividend allocation 715
Late Treasury Shares Adjustments 500.00 Per adjustment after dividend allocation 716
Corporate Actions Physical Processing
Physical Certicate 6.00 Physical processing of mandatory exchange, partial call, full
call, or maturity (surcharge) per item
719
File Fee
CCF File Fee 50,000.00 Per File Category (Pre-Allocation or Allocation/Post Allocation)
of CCF Entitlements and Allocations Files consumed during a
calendar year.
752
Agent Fees
Processing of low-volume tender 10,000.00 Per offer, and per each extension thereof 720
Consent, Voting or Blocking base processing fee
2,000.00 Per election 721
Add Elections on Event - Consent, Voting or
Blocking
1,000.00 Per election 722
Payment Processing - Consent, Voting or
Blocking
200.00 Per election 723
Event Extension - Consent, Voting, Blocking 200.00 Per election 724
Late Notice of Vol Events received 5 - 9 days 2,000.00 Notication received within 5 to 9 days of the expiration 725
Late Notice of Vol Events received < 5 days 5,000.00 Notication received less than 5 days of the expiration 726
Asset Services Exception Processing &
Research
Varies Based on structure of the offer 727
MMI Position Reinstatement (Maturity Date/Call
Date/Payable Date Correction)
10,000.00 Per CUSIP 735
Event Type Modication (Change from Principal
to Interest)
7,500.00 Per CUSIP 736
Guide to the DTC Fee Schedule >> 8
DTCC Public (White)
FEE NAME AMOUNT ($) CONDITIONS FEE ID
Rate Change and Manual Allocations 2,000.00 Per CUSIP 737
CA Eligibility Fee 1,000.00 Per new CUSIP for any security that is made eligible at DTC in
connection with a Corporate Action
760
Custody Services
All Services
Minimum charge 500.00 Per month, if billable transaction volumes are less than $500.00 511
Custody (Core Services)
Withdrawal and pickup (COD) prior to 8:30 am 40.00 Per withdrawal and pickup 693
Withdrawal and pickup (COD) between 8:30 am
– 2:00 pm
50.00 Per withdrawal and pickup 694
Withdrawal and pickup (COD) 2:00 pm – 4:30
pm
75.00 Per withdrawal and pickup 695
Withdrawal and subsequent deposit 15.00
Per withdrawal and subsequent deposit, plus branch deposit
fee
217
Withdrawal and shipment prior to 8:30 am 50.00 Per withdrawal and shipment 696
Withdrawal and shipment between 8:30 am –
2:00 pm
55.00 Per withdrawal and shipment 697
Withdrawal and shipment between 2:00 pm –
4:30 pm
80.00 Per withdrawal and shipment 698
Partial withdrawal (surcharge) 35.00
Per partial withdrawal, plus custody COD fee 227
Custody transfer 80.00 Per transfer 106
Rush transfer 100.00 Per transfer 202
Custody issue involving coupon clipping and
collection
9.00 Per coupon 251
Custody reorg deposit 60.00 Per deposit, with existing envelope; includes custody deposit
fee
198
Custody deposit 12.00 Per deposit 336
Trailing document 15.00 Per item 286
Guide to the DTC Fee Schedule >> 9
DTCC Public (White)
FEE NAME AMOUNT ($) CONDITIONS FEE ID
Custody Certicate Position Per certicate, per participant account, per month, as follows: 398
0.61 First 50,000 Certicates
0.20 Next 50,001 to 100,000 Certicates
0.10 Above 100,001 Certicates
Custody (Non-Core Services)
Special mail or customized letter 6.50 Per item 283
Box-to-box activity 9.00 Per move 116
Custody inventory swing deposit or withdrawal 8.00 Per deposit or withdrawal 700
Custody (Exception Processing)
Rejects
Transfer, Reorg or Front end reorg rejects 125.00 Per reject 120
Custody deposit 75.00 Per reject 311
Reorg research 80.00 Per item 156
Deposit Services
Branch Deposits (Core Services)
Regular or bearer deposit received from a
branch
18.00 Per deposit 199
Legal deposit received from a branch 75.00 Per deposit 317
Branch Deposits (Non-Core Services)
Return of legal deposits submitted through
PELD or PEND
30.00 Per item 235
Branch Deposits and Deposit Automation Management (DAM) (Exception Processing)
Addition of branch item 18.00 Surcharge per item, includes Branch deposit fee (199) 162
Processing of SIC deposit 15.00 Per deposit 261
Processing of response to error conditions 1.00 Per error condition 228
Processing of deposit rejected same day 25.00 Per reject 245
Guide to the DTC Fee Schedule >> 10
DTCC Public (White)
FEE NAME AMOUNT ($) CONDITIONS FEE ID
Processing of trailing documents or items
submitted through PEND
15.00 Per item 285
Rejected BDS TA deposit, Rejected DAM or
Rejected Reorg deposits
125.00 Per deposit; applies to deposit corrected or returned to a
participant because of the participant’s error
120
Deposit Automation Management (DAM)
Registered certicate deposit or Previous
reverse split
12.00 Per deposit 133
Record date or cutoff date deposit (surcharge) 30.00 Per deposit; applies to deposits made on record date or cutoff
date for the distribution of any entitlement
327
Mail issue (surcharge) 5.00 Per deposit; applies to deposits of securities sent outside the
New York metropolitan area for transfer by DTC
325
FAST transfer agent deposit (DWAC) 3.00 Per deposit; applies to deposits made to the FAST transfer
agent using the DWAC service
404
Nontransferable issue 75.00 Per deposit 376
TA DWAC FEE Deposit (Pass Thru) Varies Transfer agent DWAC fee 157
Legal Deposits
Full-service deposit 130.00 Per deposit; includes examination by DTC 313
Basic deposit 50.00 Per deposit; excludes examination by DTC 386
Municipal Bearer Bond Service
Deposit 30.00 Per deposit, up to 150 certicates 135
Reorganization Deposits
Mandatory, Redemption or Call Deposits
(regular or legal)
60.00 Per deposit 219
Restricted Deposits
Restricted deposit
Before 2:00 p.m. 60.00 Per deposit 230
After 2:00 p.m. eastern time 80.00 Per deposit, plus pass-through fees imposed by the transfer
agent
641
Guide to the DTC Fee Schedule >> 11
DTCC Public (White)
FEE NAME AMOUNT ($) CONDITIONS FEE ID
RDS mail forwarding 40.00 Per item; applies to completed transfers returned by the agent
and mailed by DTC to the participant’s customer
129
New York Window Services (including Envelope Settlement Service, Intercity Envelope Settlement Service, Funds-Only Settlement
Service, Dividend Settlement Service)
ESS or FOSS delivery, receive or reclaim 25.00 Per delivery, per receive or per item for reclaim 408
Internal cross-delivery or receive 20.00 Per delivery or receive 362
OTW delivery, receive or reclaim (including
government securities)
40.00 Per delivery, per receive or per item for reclaim 367
Other Services
Return to customer
Reorganization Services
Reorganization
Shipping charge for early CD redemption At cost 525
Proxy record date meeting 1.00 Per participant record date position; applies to holders
identied on the record date capture for proxy meetings
533
Research 55.00 Per inquiry 650
Withdrawal Services
Direct Registration System (DRS)
DO through DRS (receive or deliver) 0.45 Per transaction 667
Initiation or cancellation of DRS Prole
transaction
0.31 Per transaction submitted or transaction canceled before a
Limited Participant Account action
281
Approval of DRS Prole transaction by Limited
Participant Account
0.10 Per transaction 539
LPA pass-through 0.75 Per DRS Prole DO received 669
Guide to the DTC Fee Schedule >> 12
DTCC Public (White)
FEE NAME AMOUNT ($) CONDITIONS FEE ID
LPA pass-through disbursement (rebate) Varies Based on activity associated with fee 669. Amounts rebated as
follows:
2,000 or more deals: $2,080
Between 200 and 2,000 deals: $800
670
DRS Prole centralized reject billing
Reject At cost Per reject; pass-through agent fee 644
Reject collection Varies Per reject; amount charged is 5 percent of transfer agent fee 645
Interface Department
Shipping 90.00 Per month 335
Mailing At cost Postage incurred to forward work to participant. Participants
can choose to provide for their own courier service.
535
Urgent Withdrawal, or Certicates-on-Demand, or Withdrawal by Transfer
COD 300.00 Per withdrawal/COD 233
Physical Certicate: Critical withdrawal, WT
(interface or pick-up) or DMA withdrawal request
500.00 Per request or assignment; special costs and TA fees additional 284
Rejected COD 125.00 Per reject; applies to CODs corrected or returned to a
participant because of participant error
120
Vault exit fee 40.00 Per withdrawal 684
Direct mail by transfer agent (DMA)
Direct Registration Statement 5.00 Per assignment; excludes transfer agent charges 342
Rush WT 500.00 Per assignment, plus additional transfer fees charged by agent 243
Withdrawal at FAST transfer agent or other
custodian using DWAC
5.00 Per withdrawal 403
Rejected WT 125.00 Per reject; applies to WTs corrected or returned to a participant
because of participant error
120
TA DWAC FEE Withdrawal (Pass Thru) Varies Transfer agent DWAC fee 158
Guide to the DTC Fee Schedule >> 13
DTCC Public (White)
Failure-to-Settle Charges
FEE NAME AMOUNT ($) CONDITIONS FEE ID
Participant net debit ($) 537
First 5 million 2.0 Applies to the participant that failed to settle
6 to 25 million 1.5 Applies to the participant that failed to settle
25 to 75 million 1.0 Applies to the participant that failed to settle
More than 75 million 0.5 Applies to the participant that failed to settle
Flat fee chart Varies Increases with each occurrence, based on dollar amount of
participant net debit
Fee interest is charged to the participant that failed to settle, in addition to the interest charged for the cost of borrowing to complete settlement. The number of
occasions will be determined over a moving three-month period. A participant that exceeds four failure-to-settle occasions in a 3-month period will be subject to
further fees and/or other actions at DTC’s discretion after consultation between the participant and DTC.
If DTC determines that it had greatly affected a participant’s ability to settle (because of a DTC system delay, for example), DTC will waive failure-to-settle fees for
that occurrence.
Example: Interest is calculated overnight on a 360 day/year basis. Charges equal fee interest plus a flat fee, based on the amount of net debit in U.S. dollars. For
a net debit of $100 million, fee interest is calculated as follows:
[($5,000,000 X 0.02) + ($20,000,000 X 0.015) + ($50,000,000 X 0.01) + ($25,000,000 X 0.005]
360
= 2,847
For a rst occasion net debit of $100 million, total fees equal $2,847 (fee interest) + $1,000 (at fee) = $3,847.
Flat Fee Chart
Participant Net Debit FIRST OCCASION SECOND OCCASION THIRD OCCASION FOURTH OCCASION
$0 – 100,000 $100 $200 $500 $1,000
$100,001 – 900,000 $300 $600 $1,500 $3,000
$900,001 – 1,700,000 $600 $1,200 $3,000 $6,000
$1,700,001 – 2,500,000 $900 $1,800 $4,500 $9,000
$2,500,001 – Up $1,000 $2,000 $5,000 $10,000
Guide to the DTC Fee Schedule >> 14
DTCC Public (White)
Global Tax Services
FEE NAME AMOUNT ($) CONDITIONS FEE ID
DTC TaxRelief
DTC TaxRelief
sm
Foreign withholding tax relief Varies 0.625% of tax relief secured with a minimum fee of $32.00 and
a maximum fee of $1000.00 per nal election made during the
pre-payable election window
On Canadian Tax Relief - 0.700% of tax relief secured with a
minimum fee of $38.00 and maximum fee of $1000.00 per nal
election made during the pre-payable election period
432
Post-payable foreign withholding tax relief Varies 0.625% of tax relief secured with a minimum fee of $32.00
and a maximum fee of $1000.00 per nal election, plus a $25
surcharge
On Canadian Tax Relief - 0.700% of tax relief secured with a
minimum fee of $38.00 and maximum fee of $1000.00 per nal
election, plus a $25 surcharge
366
Manual adjustment related to tax service
Pre-payable foreign withholding tax relief
adjustment
300.00 Per transaction 655
Post- payable foreign withholding tax relief
adjustment
1,000.00 Per adjustment 431
Direct Payment Service 30.00 Per instruction 346
Foreign currency payment 30.00 Per election 589
US Tax Withholding Service
US Tax Withholding Service Annual minimum
fee
1
7,500.00 Minimum amount 541
US Tax Withholding Service Monthly fee 250.00 Per account 299
US Tax Withholding Service Post-payable
adjustment
100.00 Per adjustment 300
1
This fee does not apply to accounts of U.S. branches of foreign banks.
Guide to the DTC Fee Schedule >> 15
DTCC Public (White)
FEE NAME AMOUNT ($) CONDITIONS FEE ID
US Tax Withholding Service Withholding
Instructions
2.50 Per EDS election 298
Preparation of Form 1042-S “Foreign Person’s
U.S. Source Income Subject to Withholding”
200.00 Per form 542
Preparation of Form 2439 “Notice to
Shareholder of Undistributed Long Term Capital
Gains”
100.00 Per form 598
Section 302, tax withholding elections Varies 0.5% tax relief secured with a minimum fee of $2 and a
maximum fee of $500 per election
658
Tax Event Announcements
Tax Event Announcement 12.00 Per announcement 450
Guide to the DTC Fee Schedule >> 16
DTCC Public (White)
Membership and Pledgee Application Fees
FEE NAME AMOUNT ($) CONDITIONS FEE ID
General
Non-U.S. Entity Legal Opinion Fee Varies (a) For the initial applicant (“Initial Applicant”) organized in a given non-U.S. jurisdiction
(“Jurisdiction of Organization”) to apply for DTC membership on or after July 2, 2018, if
the applicant does not otherwise terminate its application in accordance with (c) below:
The lesser of (i) a maximum estimated charge (“Maximum Estimated Charge”) and (ii)
the actual costs charged to DTC, by outside counsel to DTC providing a legal opinion
in form and substance satisfactory to DTC regarding the laws of the Jurisdiction of
Organization.
(b) For each subsequent applicant organized in the applicable Jurisdiction of
Organization (“Subsequent Non-U.S. Applicant”), if the Subsequent Non-U.S. Applicant
does not otherwise terminate its application in accordance with (c) below: an amount
equal to the fee charged to the Initial Applicant from the Jurisdiction of Organization, as
determined in accordance with (a) above.
(c) The Non-U.S. Legal Opinion Fee is non-refundable regardless of the outcome of the
application process (i.e., approval, disapproval or expiration); however, an applicant will
not be charged a Non-U.S. Entity Legal Opinion Fee if it terminates its application in
writing within ve business days of being notied in writing by DTC of the amount of the
Maximum Estimated Charge (for an Initial Applicant), or fee amount (for a Subsequent
Non-U.S. Applicant), as applicable.
(d) If the applicant does not terminate its application in accordance with (c) above,
then the applicant will be billed the applicable fee amount as determined by DTC in
accordance with the above, with full payment due within 10 business days of receipt of
an invoice from DTC, including payment instructions.
Guide to the DTC Fee Schedule >> 17
DTCC Public (White)
Participant Output Services
FEE NAME AMOUNT ($) CONDITIONS FEE ID
Network Services
Participant Terminal System
Participant Exchange Service (PEX) via PTS or
PBS
Transmit form for LOFF 0.34 Per form delivered or received 151
Transmit IVOR message 0.18 Per message 322
Guide to the DTC Fee Schedule >> 18
DTCC Public (White)
Settlement Services
FEE NAME AMOUNT ($) CONDITIONS FEE ID
Book-Entry Delivery, Excluding MMIs
Night deliver order (including reclaims) 0.17 Per item; charged to deliverer; applies to each DO submitted 148
Day deliver order (including reclaims; excluding
stock loans)
0.54 Per item; charged to deliverer; applies to each DO submitted 147
Repos, stock loans and returns 0.18 Per item; charged to deliverer and receiver 652
Matched Institutional Transactions 0.04 Per receive or delivery 396
ID Net receive or delivery 0.02 Per receive or delivery 665
Receive, regardless of time (including reclaims;
excluding stock loans and returns)
0.11 Per item; charged to receiver 182
Submission of DO between participant accounts
within a collateral group
0.30 Per item, charged to deliverer 237
Fed DO 1.50 Per item delivered or received 586
Delivery to/from CNS (including ACATS) 0.17 Per delivery or receive 390
Deliver or receive of item submitted through
DTC–Deutsche Börse facility (surcharge)
3.65 Per item delivered or received 401
Deliver order exception processing
Hold, cancel or release of pending DO that is
recycling for insufcient position
0.24 Per item 292
Customized recycle 0.04 Per transaction that is processed out of order from the DTC
default recycle order
592
Override of Delivery Instruction to CNS 0.45 Per item; charged to deliverer 605
DTC Settlement Status Messages 90,000.00 Per year; charged to a Matching Utility that subscribes to
receive Status Information relating to Afrmed Transactions
473
Canadian Dollar Settlement
Canadian dollar settlement 2.00 Per settlement instruction 637
Guide to the DTC Fee Schedule >> 19
DTCC Public (White)
FEE NAME AMOUNT ($) CONDITIONS FEE ID
Collateral Loans
Free security pledged, released, or substituted 0.10 Per line item; payable by both the pledgee and pledgor for each
transaction
399
Valued pledge or release 0.65 Per line item; payable by both the pledgee and pledgor for each
transaction
102
Money Market Instruments (MMI) by Book Entry Only
MMI Transaction 1.00 Per item delivered or received 392
PIM 0.25 Per message, charged to deliverer 177
Payment Order Service
Premium payment order (PPO) or securities
payment order (SPO) delivery or receipt
0.10 Per item delivered or received 186
SFT Price Differential delivery or receipt 0.005 Per item delivered or received 185
Settlement Progress Payment (SPP)
Payment or withdrawal of payment 0.70 Progress payment or withdrawal of SPP/P&I 254
Sub-accounting
Partial segregation movement 0.10 Per movement; applies to segregation of a portion of a
participant’s security position
272
Memo segregation 0.02 Per request 394
Investment identication 0.10 Per movement to or from the Investment Identication account 272
Settlement Reporting
DTC EOD Liquidity Report 200.00 Per month 741
Intraday/EOD NSCC/DTC Liquidity Report 400.00 Per month 742
Guide to the DTC Fee Schedule >> 20
DTCC Public (White)
FEE NAME AMOUNT ($) CONDITIONS FEE ID
Other
Participants Fund Maintenance Fee Varies Per month; Calculated, in arrears, as the product of (A) 0.35%
and (B) the average of each Participant’s Actual Participants
Fund Deposit, as of the end of each day, for the month,
multiplied by the number of days for that month and divided by
360.
248
Guide to the DTC Fee Schedule >> 21
DTCC Public (White)
SMART/Track Services
FEE NAME AMOUNT ($) CONDITIONS FEE ID
Stock loan recall message 30.00 Per month 577
Corporate actions liabilities 75.00 Per month 596
Corporate actions liabilities transaction 0.75 Per transaction for each receive and deliver 597
Buy-in messages (excluding non-CNS
retransmittals)
1.00 Per transaction for each receive and deliver 638
Non-CNS buy-ins retransmittal messages 1.00 Per daily unique message for each receive and deliver 703
Agent lender disclosure 300.00 Per month per participant number 639
FINRA/ 3rd Party Position Report 1000.00 Per participant position report 691
Guide to the DTC Fee Schedule >> 22
DTCC Public (White)
Underwriting Services
FEE NAME AMOUNT ($) CONDITIONS FEE ID
Eligibility Fees
Charged to participants who submit eligibility
information.
Equity Eligibility Fee 900.00
Per new issue with one CUSIP plus Additional CUSIP Fee 728 661
Equity Eligibility– Additional CUSIP Fee 300.00 Per additional CUSIP;
Applies to the following security types:
• Common stock, including convertible
• Preferred stock, including convertible, tender and
auction rate
• Common and preferred real estate investment trust
stock
• Sponsored and unsponsored American depositary
receipts
• ETFs
• Rights & Warrants
• Depositary Shares
• Closed-end funds
• Limited partnership common stock
• Equity Units
728
Debt Eligibility Fee 425.00
Per new issue with one CUSIP plus Additional CUSIP Fee 729 662
Debt Eligibility– Additional CUSIP Fee 300.00 Per additional CUSIP;
Applies to the following security types:
• Corporate bonds, including convertible and variable
rate demand obligations
• Government securities
• Equity and Debt Derivatives
• Debt units
• Collateralized mortgage obligations
• Asset backed securities
729
Municipal Eligibility Fee – Single CUSIP 425.00
Per new issue with one CUSIP 660
Municipal Eligibility Fee – Multi CUSIP 975.00 Per new issue with two or more CUSIPs
Applies to the following security types:
• Municipal bonds & notes, including variable rate
demand obligations
• Municipal Other Tax Exempts
730
Certicate of Deposit (CD) 225.00
Per CUSIP 663
Guide to the DTC Fee Schedule >> 23
DTCC Public (White)
FEE NAME AMOUNT ($) CONDITIONS FEE ID
Municipal and corporate insured custodial
receipt
250.00 Per CUSIP 339
Unit Investment Trust (UIT) 40.00
Per CUSIP 293
Small Business Administration (SBA) loan pool 250.00 Per issue 247
Reissuance of failed remarketing (Bank bonds) 100.00 Per issue 673
Secondary Market Issue Eligibility 2,000.00 Per issue; fee is assessed at request for eligibility of an issue
that is currently in the secondary market and does not depend
on success of request
683
Non – FAST fee 50.00
Per new CUSIP up to a maximum of $500 per new issue; Fee
is assessed per new issue that is not FAST. This charge is in
addition to the applicable eligibility fee
731
Eligibility Surcharges
Certicated Issues 2,000.00 Per ISSUE requesting eligibility in certicated form 104
Non-receipt of nal documents 500.00 Applies when documents are not received by 10 business days
after the closing date
582
Letter of possession 1,000.00 Per issue; charged to the lead manager for distribution of a new
issue without delivery of the physical certicates to DTC before
the issue’s closing
400
UW SOURCE non-compliance 2,000.00
Per CUSIP, charged for failure to submit eligibility request via
the on-line underwriting system UW SOURCE.
664
Late Surcharges
For new issues, when either the required offering documents (if applicable) or the eligibility request is submitted:
One DTC business day before closing 5,000.00 Per issue; excludes privately transacted issues exempt under
rule 144 A, REG S, and continuously issued structured notes
submitted to DTC as an equity derivative or debt derivative
434
On the Closing Date 10,000.00 Per issue 421
Late receipt of LOR or BLOR (on closing date)
or Late Closing (after 2:00 p.m. eastern time)
400.00 Per issue 318
Guide to the DTC Fee Schedule >> 24
DTCC Public (White)
FEE NAME AMOUNT ($) CONDITIONS FEE ID
Money Market Instruments
Submission of MMI for eligibility 250.00 Per program eligibility submission 316
Late ling of MMI (surcharge) 300.00 Per program; applies when the eligibility form was received the
same day as the rst issuance of the MMI
315
IPA program change 250.00 Per IPA program change; charged once to the new IPA 583
Other Underwriting Services
IPO tracked issue 5,000.00 Per issue, per 30-day period or portion thereof that a new issue
is tracked, up to a maximum of $15,000.
Note: This fee is not prorated on a daily basis.
323
Guide to the DTC Fee Schedule >> 25
DTCC Public (White)
Web Fees
FEE NAME AMOUNT ($) CONDITIONS FEE ID
Legal Notice System (LENS)
LENS (Legal Notice System)
Accessing a notice on a pay as you go basis 21.00 Per notice; for viewing or downloading of a notice during a
single user’s online session
307
Subscription 2,000.00 Per month, per participant number; for unlimited viewing and/or
downloading of notices by one or more users
308
E-mailing of notice 21.00 Per e-mail recipient 306
Matching Utility Status Information
Status Information Fee 90,000.00 Charged annually to a Matching Utility that subscribes to
receive Status Information relating to Afrmed Transactions.
Status Information At cost One time development charge to a Matching Utility that
subscribes to receive Status Information and requests
development of an interface for it to receive Status Information
for Afrmed Transactions, for which a side of an Afrmed
Transaction is matched/conrmed by the Matching Utility, and
the Afrmed Transaction was submitted to DTC by another
Matching Utility.
Rebate Policy
The Corporation may, in its discretion, provide Participants with a rebate of its excess net income, where “excess net income” shall mean income of either the
Corporation or related to one business line of the Corporation after application of expenses, capitalization costs, and applicable regulatory requirements.
All rebates shall be approved by the Board of Directors of the Corporation. In determining whether a rebate is appropriate, the Board may consider,
among other things, the Corporation’s regulatory capital requirements, anticipated expenses, investment needs, anticipated future expenses with respect to
improvement or maintenance of DTC’s operations, cash balances, nancial projections, and appropriate level of shareholders’ equity.
In the event the Board determines a rebate is appropriate, it shall determine a rebate period and a rebate payment date. Participants maintaining membership
during all or a portion of the applicable rebate period and on the rebate payment date shall be eligible for the rebate.
Rebates shall be applied to all eligible Participants on a pro-rata basis based on such Participants’ gross fees paid to the Corporation within the applicable
rebate period, excluding pass-through fees and interest earned on cash deposits to the Participants Fund. Rebates shall be applied to eligible Participants’
invoices on the rebate payment date as either a reduction in fees owed or, if fees owed are lower than the allocated rebate amount, a payment of such
difference. Rebate amounts may be adjusted for miscellaneous charges and discounts.
Guide to the DTC Fee Schedule >> 26
DTCC Public (White)
DTC Glossary
TERM DEFINITION
ABS asset-backed security
ACATS Automated Customer Account Transfer Service
ADR American Depositary Receipt
BDS Branch Deposit Service
BEO book entry only
BLOR blanket letter of representations
BMA Bond Market Association
CCF Computer-to-Computer Facility
CD certicate of deposit
CMO collateralized mortgage obligation
CMOP change mode of payment
CNS Continuous Net Settlement
COD certicate on demand
CP commercial paper
CRS Cash-in-Lieu/Roundup Service, which allows a participant to liquidate full shares for cash-in-lieu of fractional shares and to round up
the fractional entitlements on behalf of the benecial owner
CRT cathode-ray tube; also known as “green screen”
CUSIP Committee on Uniform Securities Identication Procedures; CUSIP number refers to a nine-character unique identier for each
security
DAM Deposit Automation Management
DAMP Deposit Automation Management for Participants
depository participant A participant that accepts deposits from a DTC participant
DIP Deposit Imaging Processing (system)
DMD direct mail by the depository
Guide to the DTC Fee Schedule >> 27
DTCC Public (White)
TERM DEFINITION
DO deliver order
DRP Dividend Reinvestment Program
DRS Direct Registration System
DSS Dividend Settlement Service
DTAX Domestic Tax Reporting System
DTC The Depository Trust Company
DWAC Deposit and Withdrawal at Custodian
ESS Envelope Settlement Service
FAST Fast Automated Securities Transfer
FOSS Funds-Only Settlement Service
IESS Intercity Envelope Settlement Service
IPA issuing/paying agent
IPO initial public offering
IVOR Investor’s Voluntary Redemption
IVORS Investors’ Voluntary Redemptions and Sales
LENS Legal Notice System: a repository of notices published by third-party public or private agents and agencies that report non-
settlement information about DTC-eligible securities. You can access the following types of notices:
Legal notices: Notices to security holders, bankruptcy, default, litigation/class action, letter of credit substitution and cost basis
Tax information: Notices on the taxable status of domestic equities
Transfer agent: Notices informing the industry about a corporation’s decision to change its transfer agent
Limited Underwriting
Service
Applies to municipal issues with a principal value of $1 million or less at maturity
LOC line of credit
LOFF Letter of Free Funds
long position billing for
municipal bearer bonds
Municipal bearer bond rates apply to a municipal debt instrument that exists in bearer form. Interchangeable issues, which can exist
in either bearer or registered form, are billed at the bearer rate, reecting the higher costs of safekeeping interchangeable issues
and converting bearer position to registered form.
LOR letter of representations
low-volume tender offer Offer in which the offeror is seeking to purchase for cash up to 5 percent of the outstanding shares of an equity issue or any amount
of a debt issue. The offer does not include exchange offers or offers by the issuer of the target security. Payment must be made in
advance by the offeror with a certied check or by wire transfer.
Guide to the DTC Fee Schedule >> 28
DTCC Public (White)
TERM DEFINITION
LPA limited-purpose account
MA minimum amount
MBS mortgage-backed security
MDH Mainframe Dual Host
MMI money market instrument
NA net additions
NSCC National Securities Clearing Corporation
NYSE New York Stock Exchange
NYW New York Window
OCC Options Clearing Corporation
OTC over the counter
OTW over-the-window
P&I principal and interest
PBS Participant Browser Service
PDA pending delivery account
PIM Pre-Issuance Messaging: Communication message between an issuing/paying agent and a dealer that details the terms and
conditions of an MMI before it is issued to the market
Please Code request to assign a CUSIP number to a trade without one
PO payment order
PRS previous reverse split
PTS Participant Terminal System
QIB qualied institutional buyer
RDS Restricted Deposit Service
repo repurchase
REIT real estate investment trust
S&P Standard & Poor’s
SBA Small Business Administration
Guide to the DTC Fee Schedule >> 29
DTCC Public (White)
TERM DEFINITION
SCL shipment control list
shell envelope into which coupons are placed
SIC Securities Information Center; a centralized database by the Securities and Exchange Commission to report lost, stolen, missing
and counterfeit securities
TA transfer agent
turnaround DO MMI DO transmitted to DTC before the processing of an original issuance that will create a CUSIP
UIT unit investment trust
VRDO variable-rate demand obligation
WT withdrawal-by-transfer
