The Depository Trust Company (“DTC”)
A central securities certificate depository through which Securities are held in book-entry only form.
bond-basics
Fast Automated Securities Transfer (FAST)
Program of Depository Trust Company (DTC) with a goal of reducing certificate movement by having Bond certificates held by FAST transfer agents rather than by DTC. FAST transfer agents are typically the Paying Agent or Trustee in connection with issuance of the Bonds.
See Also
Paying Agent
The institution, often appointed in an indenture or a paying agency agreement, responsible for making payments of interest and principal to bondholders.
Start with the Bond Basics
Hundreds of Terms and Concepts
Weighted Average Maturity
Generally, the weighted average maturity of a bond issue is the sum of the product of the issue price of each maturity of the bond issue multiplied by the number of years from the closing until that maturity date divided by the issue price of the entire bond issue.