> For the complete documentation index, see [llms.txt](https://docs.xft.finance/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.xft.finance/bitnet/use-cases/archive/accounts/page.md).

# Page

<figure><img src="https://230097554-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FVc0zNqDOnJvnaeQI66Ta%2Fuploads%2FunkzxkWXqVgouZPqarRN%2Fimage.png?alt=media&amp;token=7427e244-6cda-42d9-93ac-92efdcfc48ff" alt=""><figcaption></figcaption></figure>

DWAC: Deposit and Withdrawal at Custodian, or

DRS: Direct Registration System

The main difference is DWAC deposits require a Medallion Guaranteed Stock Power and DRS deposits are paperless. In the United States and Canada, a medallion signature guarantee is a special signature guarantee for the transfer of securities. It is a guarantee by the transferring financial institution that the signature is genuine and the financial institution accepts liability for any forgery.​

Q: Why beneficial or direct ownership over street?

Convenient access to trading (through websites and apps).

Low, or no transaction fees and account fees.

Protection against brokerage insolvency through SIPC Insurance \[1].

Trade quickly without waiting for T+2 settlement for securities or for cash.

Semi-anonymity for larger individual investors (only their broker knows their identity).

Ability of investors to use their stock as collateral to borrow against in a margin loan \[2].

Allows for the holding of uninvested cash \[

RESOURCES

<https://issanet.org/content/uploads/2013/04/2019-05-21_ISSA_Background_Overview.pdf>

[CME omnibussupportinformation.pdf](https://www.cmegroup.com/tools-information/lookups/advisories/cme-account-manager/files/omnibussupportinformation.pdf)

[Why DRS](https://www.whydrs.org/what-is-drs)