DTCC Launches Rapid Issuance Service for Structured Notes

The Depository Trust & Clearing Corporation (DTCC) has launched its Rapid Issuance service, an offering designed to expedite the process for bringing structured notes to market. The service, provided by DTCC subsidiary The Depository Trust Company (DTC), operates within the DTC Underwriting Central platform.

Rapid Issuance automates the end-to-end issuance creation process. It is built to support bulk eligibility of equity-linked structured notes, shortening processing time, reducing operational complexity, and enabling higher volumes. The new process allows issuers to complete closings within an hour of security submission.

Patrick Barthel, Executive Director of DTCC Asset Services, noted several clients are already using the service's efficiency and automation. He stated the launch reaffirms DTCC's commitment to delivering innovative, client-centric solutions by digitizing and automating core processes.

Karen Montbach, Executive Platform Owner at BNY, commented that as issuance models grow, market infrastructure must evolve. She said BNY is pleased to provide full Paying Agent support through the service, helping clients access debt capital markets more swiftly.

Brian Miller, Director of Global Banking New Issues at UBS, called Rapid Issuance an important step in modernizing structured note issuance. He highlighted the benefits of pre-establishing DTC eligibility and executing bulk issuances on settlement day for greater flexibility and operational certainty.