Custody and the handling of funds depend on the applicable service and its terms. A DTCC Trading custody policy is not currently published here. The topics below explain what to review in a service document.
Authorization and capture
A payment authorization and a completed charge are different events. Review the documented sequence.
Payment and delivery
Identify which event confirms delivery, what record proves it and when a payment is charged.
Information requirements
A service document should explain required information, review steps and the result of an incomplete review.
Account arrangements
Identify who holds funds and under what documented arrangement.
Funds during processing
Review where funds remain while an instruction is being processed.
Refund information
Read the conditions, destination and process for any refund.
Service interruption
Review the applicable rights and arrangements if a service stops operating.
Address identification
Establish the destination address and exact network through a verified service record.
Asset identification
Review any required memo or tag alongside the asset identifier and destination.
Instruction validity
A service document needs to state any expiry and how late or mismatched transfers are handled.
Transaction evidence
Use the relevant network record to check the status of an on-chain transaction.
Order of events
Read which event establishes completion and what record supports the payout status.
Refund conditions
Do not assume that a transfer can be refunded or reversed.
Information requirements
Review any eligibility checks and the documented treatment of an incomplete or declined instruction.
Custody during processing
Determine who can control an asset while it is being processed and which terms describe that control.
Published review and processing times need to identify their scope and any conditions.
Use the applicable service documents and verified contact channel for questions about funds. No DTCC custody arrangement, refund procedure or response time is established by this page.