Delaware Depository

Delaware Depository is a privately held precious metals custody and distribution center founded in 1999. Located in Wilmington, Delaware, Delaware Depository provides precious metals bullion custody, safekeeping, and distribution services for IRA custodians, financial institutions, broker-dealers, refiners, and individual investors. Customers have the option of storing bullion in either Wilmington, DE, Orange County, CA, or internationally, in Canada or Switzerland.

Delaware Depository
Private
IndustryPrecious Metal
Founded1999
Headquarters3601 N Market Street, Wilmington, DE 19802[1]
ServicesStorage, Logistics, Security
Websitewww.delawaredepository.com

Delaware Depository is a Licensed Depository of CME Group, Inc. (Comex and Nymex Divisions)[2] and Intercontinental Exchange, Inc. for gold, silver, platinum, and palladium bullion. Delaware Depository applied for and obtained a no-action letter from the Securities Exchange Commission (SEC) which authorizes it to provide gold and silver bullion custody and safekeeping for mutual funds and other 1940 Act funds.[3][4]

Delaware Depository adheres to “defense in depth” security controls and procedures to protect customer assets from theft or damage.[5] This includes fortified physical structures and UL-rated vaults, 24/7 video surveillance, motion, sound, and vibration detection, electronic security, logical controls, and dual controls/segregation of duties internal controls.[6] An external auditor conducts SSAE-16 (now SSAE-18)[7] SOC-1 audits of Delaware Depository’s security controls and procedures. Customer assets and recorded holdings are continuously reconciled and audited by internal and external auditors. Delaware Depository’s vault staff utilizes various manual and mechanical methods of counterfeit detection to mitigate risk associated with counterfeit or tainted bullion products.[8]

A key benefit to storing physical bullion assets in Wilmington, Delaware is that this geographic location has not been impacted by terrorist attacks, weather-related disasters, or geopolitical events that threaten to disrupt a bullion depository’s security and ongoing operations.[9] Delaware Depository maintains a disaster recovery center to restore operations and provide continuity of services in the event of a major business interruption.[10]

Delaware Depository developed the IRA Gateway™[11], an internet-based portal featuring a messaging system, document repository, and escrow service that enables IRA custodians and bullion dealers to efficiently execute and settle purchases and sales of IRA-invested bullion products.

References
  1. "Contact DD". DelawareDepository. Retrieved 29 March 2018.
  2. "Depositories/Warehouses". CME Group. Retrieved 26 March 2018.
  3. "Depository Trust Company of Delaware, LLC dba Delaware Depository, September 12, 2016". www.sec.gov. Retrieved 2018-03-26.
  4. "Incoming Letter: Depository Trust Company of Delaware, LLC dba Delaware Depository - 1940 Act Section 17" (PDF). Retrieved 26 March 2018.
  5. "Delaware Depository Web Brochure" (PDF). Retrieved 26 March 2018.
  6. "Delaware Depository". Retrieved 10 April 2014.
  7. "The SSAE 18 Audit Standard (Updates and Replaces SSAE-16) | The SSAE 18 Reporting Standard - SOC 1 - SOC 2 - SOC 3". www.ssae-16.com. Retrieved 2018-03-26.
  8. "Journey to Safekeeping - Delaware Depository". Delaware Depository. Retrieved 2018-03-26.
  9. "Delaware Depository Web Brochure" (PDF). Retrieved 26 March 2018.
  10. "Vast deposits of precious metals held in Delaware - Delaware Business Times". Delaware Business Times. 2017-12-20. Retrieved 2018-03-26.
  11. "IRA Gateway - Login". iragateway.com. Retrieved 2018-03-26.
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.