DDSC Overview

Delaware Depository Service Company (DDSC) is an Exchange-approved, Delaware-based, limited liability company providing a full range of specialized precious metals custody, accounting and shipping services to financial institutions and industrial companies .  Customers include investment banks, brokerage firms, refiners, manufacturers, commodity trading houses, major retailers and coin dealers.

Specifically, DDSC receives, inspects, securely stores, internally transfers, and ships world-wide precious metals bullion (in bar, coin and industrial form) for its customers.  Relevant accounting support (i.e., account deposit/withdrawal confirmations, inventory reports, and detailed shipping manifests), as well as personalized customer assistance, is also provided.

DDSC was established in 1999 to offer the precious metals industry at large a complete array of bullion and coin custody, shipping, and depository account administration services based in Delaware, which offers precious metals companies and investors numerous tax, cost, operational and accessibility advantages not available to them elsewhere.

DDSC is approved by the Commodity Futures Trading Commission as a licensed depository of the CME Group (COMEX and NYMEX Divisions) for the storage of silver, platinum and palladium. DDSC is also licensed by the NYSE-Liffe (Previously the Chicago Board of Trade) for the storage of silver.

Customer assets are stored in high-security vaults located in Wilmington, Delaware.  Vaults are constructed and maintained in compliance with the Bank Protection Act and UL standards, and are equipped with time locks and automatic re-locking devices.  Access is restricted and regulated by dual control procedures.  Metal detectors monitor egress from high security areas. The entire facility is protected by numerous, redundant alarm and security devices that are independently monitored 24 hours per day, 365 days per year.  All activity in and around the facility is digitally recorded.

In addition to physical security measures, assets are protected through the use of proprietary systems and stringent internal controls.  Proprietary systems are designed to meet the strict requirements of DDSC’s banking and brokerage house correspondents, and individual customers.  All computer data is backed-up daily and securely stored in on-site and off-site data vaults.  Internal audits of inventories are performed on an ongoing basis, and our operations are reviewed annually by both our certified public accountants and our insurance brokers. 

DDSC’s staff is highly experienced and turnover is very low.  Background checks and random drug testing procedures are employed.

To supplement experience, physical security and internal controls, DDSC maintains $1 Billion in “all-risk” insurance coverage.  The current policy is underwritten by Lloyd’s of London and includes all risks of physical loss and/or physical damage, including mysterious disappearance and/or unexplained loss and shortage, employee dishonesty and theft. Loss or damage from fire, flood or other natural disaster is also covered.  Loss from acts of war, terrorism, cyber attack, radioactive contamination, and chemical, biological, biochemical and electromagnetic weapons are excluded.  Shipments by mail or express carrier are insured to $100,000 per package.

On a final note, customer assets stored with DDSC are fully allocated and considered a bailment, not a deposit or consignment.  Customer holdings are not an asset of DDSC and, accordingly, cannot be subject to the claims of any creditor of DDSC.
DDSC is America’s largest precious metals depository located outside New York City.

To speak with a Delaware Depository representative call (302) 765-3889