FAST
Also written as: FAST — Fast Automated Securities Transfer
Acronym for Fast Automated Securities Transfer; a DTC program that links transfer agents electronically to DTC's book-entry system, facilitating rapid movement of securities between registered and DTC-held positions.
Full Definition
The FAST (Fast Automated Securities Transfer) program is a DTC initiative under which eligible securities are held in a 'jumbo certificate' or uncertificated position in DTC's nominee name, with the transfer agent acting as custodian on DTC's behalf. By participating in FAST, transfer agents can process DWAC transactions and DRS transfers more efficiently without the physical movement of certificates. FAST participation is required for most DTC-eligible securities. Editors should write 'FAST' in full caps and should distinguish it from DWAC (a transaction type that uses the FAST infrastructure) and from DRS (a shareholder ownership election).
Usage
Usage note: Always full caps. Distinguish from DWAC (a transaction mechanism that operates within the FAST framework) and DRS (a shareholder-facing ownership election). 'FAST-eligible' may be hyphenated as a compound modifier.
In Context
- "Because the issuer's shares are FAST-eligible, brokers can initiate DWAC transactions to move shares between the transfer agent and DTC without physical certificates." — Transfer agent technical guide
- "The compliance manual noted that all equity securities must be enrolled in the FAST program prior to their exchange listing date." — Compliance operations manual