DTCC Rapid Issuance enables one-hour structured note closings

The Depository Trust & Clearing Corporation on April 1, 2026, introduced Rapid Issuance in The Depository Trust Company's Underwriting Central. The service lets issuers bring equity-linked structured notes to market and complete closings within one hour of submitting securities for eligibility by using automated issuance workflows.

Offered by DTC, a DTCC subsidiary, Rapid Issuance automates end-to-end new-issue creation, supports bulk eligibility for equity-linked structured notes, shortens processing time and reduces manual steps for dealers and issuers. According to DTCC, the process is built to handle higher volumes as issuance programs expand. Capabilities include establishing DTC eligibility in advance of issuance and executing multiple issuances on settlement day.

The workflow is paired with an expanded data model intended to improve the accuracy of corporate actions announcements. The firm expects this to speed payment distributions and tax reporting for dividends as well as principal and interest events tied to the notes.

Patrick Barthel, executive director at DTCC Asset Services, highlighted early client use:

“We're excited to see several of our clients are taking advantage of the efficiency and increased automation available within Rapid Issuance.”

Karen Montbach, executive platform owner for Conventional Trust at BNY, pointed to simpler eligibility and better data quality, adding: “DTCC's Rapid Issuance service delivers operational efficiencies by streamlining eligibility processes and enhancing data quality. BNY is pleased to provide clients launching debt programs with full paying agent support through this service, helping them access debt capital markets with greater speed and efficiency.”

Brian Miller, director for Global Banking New Issues at UBS, noted operational benefits:

“The ability to establish securities' DTC eligibility in advance of issuance and execute bulk issuances on settlement day provides greater flexibility, efficiency, and operational certainty.”

DTCC provides post-trade market infrastructure used by broker-dealers, custodian banks and asset managers. In 2024, its subsidiaries processed securities transactions valued at $3.7 quadrillion. DTC provided custody and asset servicing for securities from more than 150 countries and territories valued at $99 trillion. DTCC's Global Trade Repository processes more than 25 billion messages each year through locally registered or approved trade repositories. The company has operated for more than 50 years from 20 locations and focuses on clearing, settlement, asset servicing, reporting and data services across asset classes.