CDs Dematerialized at DTCC

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Infrastructure giant DTCC today confirmed the launch of its new Underwriting Central (UWC) platform, an automated service for electronic Certificates of Deposit (CD) offered by its subsidiary, The Depository Trust Company (DTC).

The new, digital UWC platform provides a paperless process for the delivery of CDs, increasing efficiency through automation, improving data quality, reducing risk, and providing greater transparency into the eligibility life cycle, DTCC said in a statement, further saying that it also represents an important step in bringing the industry closer to achieving full dematerialization.

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