Account Structure

DEPEND supports a flexible account structure allowing both the direct holding model and the indirect holding model; hybrid models can also be supported.

In the direct holding model, CSD accounts are held at the level of beneficial ownership; this is also referred to using different terminology such as “name on register” or “retail model”.

In the indirect holding model, only a few CSD accounts are held by the depository participants, and these are all omnibus accounts with perhaps some segregation into at least client and house accounts, and in some cases more business process related segregation. The actual beneficial owners are maintained varying layers of nominees.

Segregation of securities balances in DEPEND is handled through detailed records of the related business entities allowing customers to choose between natural segregation allowing securities to be blocked directly on the owner’s account, or by transfer to other accounts.

Accounts themselves can be identified and classified by customer-defined Account Type and Account Class; this is in addition to the issuer level and account level category codes that can be applied.