History – The Bank Depository User Group (BDUG) was organized in 1982 by representatives from several regional bank participants of DTCC. Since that time, BDUG has grown to become an industry leader for the bank depository community.
As a non-profit association, BDUG is a self-governing organization that derives its success from its membership participation and the partnership with industry providers. BDUG consists of a Steering Committee which serves as the formal management team of the BDUG organization. Nominations to the Steering Committee are welcomed and encouraged from members. At the annual meeting, the Steering Committee advises the membership of BDUG’s activities and any amendments to by-laws, which require consent of the membership. The annual town hall meeting provides an open forum whereby members may voice any concerns or questions about the future of BDUG.
Mission – BDUG increases the information flow between DTCC and its participant banks, provides DTCC’s management with input related to their procedures, policies, and operations, and promotes a spirit of cooperation and goodwill among BDUG members and DTCC.
Who is eligible to join BDUG? – Any bank that is a direct DTCC participant can and should become a member of BDUG.
Why should a bank join BDUG? – The Bank Depository User Group (BDUG) provides educational and networking opportunities to the bank depository member community. Membership in BDUG provides a way to improve communications between custodians and depositories, a medium to interact with nationally recognized industry leaders, continuing education credits and an additional opportunity to obtain industry information. In order to stay informed of developments at DTCC and to have their opinions heard by DTCC’s management, all participant banks should be part of BDUG’s membership. BDUG also offers excellent opportunities for banks to share ideas when faced with industry events such as Corporate Actions, Cost Basis, and P& I payment updates. Your annual dues include two voting memberships to insure you have a voice in BDUG’s future. Additional non-voting memberships are also available for other members of your firm.
How do we join BDUG? – Just click the PDF link below, print and fill out the membership form. For nominal dues of $650 per year your institution will receive all correspondence related to BDUG and have an active voice at DTCC.
For further information on BDUG contact John Stelzer at 614-213-7142 or e-mail John.T.Stelzer@jpmorgan.com.