Fedwire® Securities Service Setup

Thank you for choosing the Fedwire Securities Service. We are excited to work with you to make this a smooth and easy transition. Following are the steps you will need to take to streamline your implementation process, including contacts to help you with questions at any step along the way.

Step 1 - Review Rules and Regulations

Prior to setting up the Fedwire Securities Service, your organization must review and agree to all the provisions set forth in Operating Circular 7. This document provides the terms under which the Federal Reserve Banks maintain securities accounts and effect transfers of book-entry securities for participants.

Step 2 - Complete Forms/Agreements

To set up access, your institution will need to submit the following forms. If you have questions about the forms, please contact the Wholesale Operations Site that supports your District.

If your institution has or will be setting up a Master Account, you will need to submit the following:

If your institution does not have a Master Account, and you will be using this service for collateral only, you will need to submit the following:

Step 3 - Assess Access Needs

Prior to using the Fedwire Securities Service, your institution will need to contact the Wholesale Operation Site to let them know how you would like to transfer securities as well as which securities accounts you would like to establish.

You have the option of using a Federal Reserve Bank access solution (FedLine Direct® or FedLine Advantage®), a third-party service provider or the offline service offered by the Federal Reserve Banks. This information needs to be provided to the Federal Reserve Banks in the form of a letter signed by an individual listed on your institution's Official Authorization List (OAL).

If you need assistance in choosing a Federal Reserve Bank access solution, please reference our access solution matrix. Once you have chosen the access solution, you may need to take additional steps, as noted below:

  • If your institution will be using the FedLine Advantage access solution, you will need to determine which Subscriber roles are needed, and your EUAC will need to submit a separate Federal Reserve Bank External Subscriber Request Form for each individual who will be authorized to use the service.
  • If you will be using the FedLine Direct access solution, you may want to reference the list of vendors that offer compatible software products that interface with the Fedwire Securities Service.
  • If a service provider will be processing for your institution, you will need to complete the Fedwire Third-Party Service Arrangement (Operating Circular 6, Appendix C) (PDF).
  • If information is not submitted to the Wholesale Operations Site specific to your access needs, you will be set up to send and receive securities using the offline service. Your institution will be billed for use of the offline service based on the fee schedule.

Step 4 - Schedule Testing and Production Date

If you will be using the FedLine Direct or FedLine Advantage access solution, the Federal Reserve Banks will assist you in establishing a testing schedule. Testing requirements will vary based on the products you have selected. For more information, review the Fedwire testing opportunities or contact the Wholesale Testing Unit that supports your District.

Once testing has been successfully completed, a production cutover date will be scheduled. On the cutover date, you should be ready to use the services to which you've subscribed.

Step 5 - Congratulations! You can now begin using the Fedwire Securities Service.

The following links provide you even more education and information to ensure you are using Fedwire Securities Service to its fullest potential.

Fedwire Securities Service Education

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