Securities: POSITION and SECURITY.TRANSFER

There are three basic means of entering securities movements in T24. The SEC.TRADE and SECURITY.TRANSFER applications allow the movement of securities into or out of portfolios whereas the POSITION.TRANSFER relocates securities without seeking payment.

The POSITION.TRANSFER transaction enables the movement of single or multiple positions from one location to another. For example, a customer may decide to move some of his holdings into another of his portfolios. Similarly, your organisation may decide to relocate the securities into another depository. You may also use this transaction to relocate PART of a security position.

The POSITION.TRANSFER differs from the SECURITY.TRANSFER in that it allows the movement of an entire position from one location to another. The SECURITY.TRANSFER on the other hand, allows the transfer of a specified number of share type securities or a nominal amount bond type paper from one account to another.

You may use the POSITION.TRANSFER to affect the following:

1. Transfer some or all Positions from one portfolio to another belonging to the same CUSTOMER.
2. Transfer some or all Positions from one portfolio to another belonging to another CUSTOMER, subject to override.
3. Transfer some or all Positions belonging to one portfolio from one depository to another.
4. Transfer some or all Positions to a CUSTOMER having more than one portfolio from one depository to another.

The SECURITY.TRANSFER transaction enables the free transfer of securities into or out of a portfolio. It is particularly useful in two very important cases:

The initial setting up of positions on a newly delivered T24 System.
In cases when customers, for whom the T24 user maintains custody operations, either BUY from or SELL to third parties directly.
It is also possible to receive or deliver the securities together with the corresponding cash entries if the customer requires this.

The SECURITY.TRANSFER differs from the POSITION.TRANSFER in that it allows the transfer of a specified number of share type securities or a nominal amount bond type paper. The POSITION.TRANSFER, on the other hand, is used to effect the movement of an entire position from one location to another.