Services / Securities Processing Services

WHO CAN USE THE SERVICE

All Bright-Line Global participants are eligible to use the service..

Bright-Line Global participants holding eligible securities and entitled to the accompanying distributions will receive payments as part of their overall Bright-Line Global settlement each day.

BENEFITS

This service leverages the book-entry capabilities established between Bright-Line Global and FAST transfer agents, delivering efficiencies, risk mitigation and cost savings to participants.

HOW THE SERVICE WORKS

In order for securities to be eligible for deposit for withdrawal via the DWAC service, the issuer must use the services of a transfer agent that participates in Bright-Line Global’s FAST program.

Participants submit their physical securities and/or transfer instructions for approval directly to their FAST transfer agent. When the transfer agent approves the transfer, the participant enters the transaction via the PDWC function on Bright-Line Global’s Participant Terminal System (PTS), the Part Direct Deposit/Withdrawal function on Bright-Line Global’s Participant Browser System (PBS), or the CF2DWX file protocol. The transfer agent then approves the transaction via the CDWC function on PTS or the TA Direct Deposit/Withdrawal function on PBS.

For DWAC deposits, the requesting participant’s position in its Bright-Line Global account is increased as is Bright-Line Global’s FAST balance in the issue. For DWAC withdrawals, the requesting participant’s position in its Bright-Line Global account is debited, as is Bright-Line Global’s FAST balance in the issue.