Changing Instrument Providers on a CIS

  • The existing Instrument Provider on a CIS can be changed.
  • Such a change will have an effect on the Instruments of the CIS as explained in Instrument Providers and Instruments.
  • Changing the Instrument Provider on the CIS will change the Dealer of the Instruments on the CIS to that of the new Instrument Provider.
  • This will create a new Dealer/Custodian/Instrument relationship and therefore a new Supplier Account will be created.
  • Future units dealt through the new Dealer will be allocated and managed in a new Supplier Account in accordance with the new Dealer/Custodian/Instrument relationship as explained in Why Supplier Accounts.
  • Should the Instrument Provider change, but the dealer stays the same, the Dealer of the new Instrument Provider must be overridden on the Instrument to the existing/old Dealer.
  • No new Dealer/Custodian/Instrument relationship then exists and further dealings will continue in the previous Dealer/Custodian/Instrument Supplier Account.
    • Existing/old Instrument Provider

    The Dealer on the PEPS instrument

    Instrument Account

    New Instrument Provider, with existing Dealer

    The Dealer on the PEPS instrument

    Instrument Account

    New Instrument Provider, with a new Dealer

    The dealer on the PEPS instrument

    Instrument Accounts

    Last Updated on 6 years ago by Tinus Burger