Custodian. The custodial bank holds the assets of the duETS in custody. The bank is charged with safe keeping of the cash and Treasuries held in the Trust. Whenever there is a creation, the bank accepts the cash and/or Treasuries into the Trust. When there is a redemption, the bank distributes the cash and/or Treasuries to the redeemer.
Fund Administrator. The fund administrator is responsible for calculating the NAV of a pair of Down and Up securities on a daily basis and distributing that value to all AdCs as well as the custodial bank.
Stock Transfer Agent. The stock transfer agent is charged with tracking who owns which duETS. The stock transfer agent must be notified of all trades, including all creations, redemptions and secondary market trades.
Auditor. The auditor audits the duETS Trust(s), including all activities done on behalf of the Trust such as custody, fund administration, stock transfer agency and investment management.