T-strips

RFQ Details

A reputable buyers insist on closing by DTC/DVP (no free delivery), T-1 and why we put this in the procedures. . T-Strips are all in book entry only and so the only way to prove ownership is by speaking with the trader or seeing a ustody statement from the seller's brokerage house. The provider who provide ISIN and CUSIP numbers up-front. In reality, ISIN and CUSIP numbers prove nothing. I can provide the ISIN and CUSIP numbers for every T-Strip out there and it does not prove I own them.