If you click on More Actions in the Current Holdings card of an account, you can see the “instrument accounts” of the investor.

Instrument accounts are the accounts that hold the units for a specific Custodian / Dealer combination in an instrument. This allows you to have shares in the same instrument at two different dealers for the same investor account. This is for scenarios where e.g you bought Apple shares at ABC, then decided to change the default dealer to XYZ for Apple. Buying Apple shares again will buy them at XYZ and the system keeps track of where the clients has its units.

Eg.
Client A
Apple (ABC) 8
Apple (XYZ) 2
The Holdings summary will show 10 units in Apple.

IMPORTANT: Just changing the default dealer of an instrument could cause problems if there are previous transactions at another dealer AND the dealer was incorrectly setup on the system. If your intention is to just change dealer then it is correct, but if it is to fix the default dealer setup, Finworks will need to fix the data as well.

Last Updated on 8 years ago by Antoinette Van Meyeren