deposit/withdrawal at custodian (DWAC)

Definition

DWAC. An electronic method of transferring shares between brokers using the Depository Trust Company (DTC) and a transfer agent, with the transfer agent serving as a custodian.

Use this term in a sentence

You may want to try and use the deposit/withdrawal at custodian method if you think that will make things easier for the deal.

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DEPOSIT/WITHDRAWAL AT CUSTODIAN An electronic method of transferring shares between brokers using the Depository Trust Company (DTC) and a transfer agent, with the transfer agent serving as a custodian.

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