Specifications include, but are not limited to: A qualified brokerage firm/Custody Bank to handle the University’s gifts of securities. The University routinely receives gifts of marketable securities (e.g. stocks, bonds, mutual funds) which are sold and the proceeds are electronically transferred to the University to support the donor’s intended purpose. The service provider receives notice of a transfer of ownership to the University primarily through Depository Trust Company (DTC) and Automated Customer Account Transfer Service (ACATS). The University is notified same day through the service provider’s online portal, or via email. The service provider provides the name of the donor (if available) based on information provided through the DTC or ACATS systems. The University notifies the service provider when to sell the securities. On settlement, the proceeds from the sale of the securities are sent via ACH to a University account using standing instructions.