(SB35) Cash A/c + Trust A/c


Cash type client are usually settle on settlement date. For selling of stock, broker firm will retain the printed cheque until the client come for collection. The delivery of stock is done via the Central Clearing System. Unless the client are short of stock and require physical stock delivery, there will be no difficulty for broker firm to handle this type of settlement.


However, for client who purchase stock and did not turn up for settlement. The amount receivable from client will become a financial burden for the broker firm.

Broker firm often charge them a penalty interest for failed to make settlement for number of days after the settlement date.


Alternatively, broker firm will sell out their purchased stock to compensate the due amount. However, there will be a deficit if there are price difference.


To ensure that the broker firm will not suffer from such loss, an advance deposit will be collected for each cash type client. This deposit is maintained in a trust account. In other word, a cash client will have 2 accounts, namely trading account and custody account. The custody client will be used to keep the deposit amount while the trading account is for normal transactions.


To make the client well aware how the deposit goes, this module relate two accounts and print the balance of the custody account on the statement of the trading account. I.e. The client with transaction on T-day will get a statement reporting the transaction done as well as the latest cash balance of their custodian account.


Since custodian account can be used to keep client's money, the account can be used for interest calculation. For clients who have a credit balance of up to certain amount, the system can generate credit interest for that account.


Similarly, the system will debit with interest if the balance is debit in balance.

這是很有創意的安排,每個現金客戶A客同時有一相對的P戶口, 而P戶口是以Custodian形式計算,平時以A戶口處理交收,但以P戶口來管理不動的資金,這方式既滿足現金客戶喜歡逐單交收的習慣,也同時管理有關現金客戶之按金,將不動部份呈現在Trust A/c Report上.