All escrows are created by Escrow Factory and managed by Instrument Manager. The image below shows the relationship between Escrows and Instrument Manager in an instrument domain. When an asset needs to be transferred from Instrument Escrow to Issuance Escrow, Instrument Manager withdraws the asset from Instrument Escrow and then deposits it into Issuance Escrow. The flow is similar when transferring asset from Issuance Escrow to Instrument Escrow. Since Instrument Manager is the only admin of both Instrument Escrow and Issuance Escrow, it's the only party that could operate on the assets within an instrument domain.