Deposit/Withdrawal at Custodian - DWAC
The automated system for deposits and withdrawals of securities from the Depository Trust Company (DTC).
Investopedia Commentary
This electronic method of clearing options speeds up the receipt of stock and cash, and thus accelerates the settlement process for investors.
Related Links
The Nitty-Gritty Of Executing A Trade
See also: Clearing House, DTC, Option
Also spelled: DWAC