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Article NO. Content


Directions for Reporting and Handling of Out-Trades and Account Number Corrections by Securities Brokers  CH

Amended Date: 2019.01.07 
Categories: Securities Exchange Market > Out-trade
4     Procedures for reporting account number corrections for which an investor is liable:
  1. A securities broker processing an application for correction of an account number from the investor who originally placed the order shall do so, at the latest, by 10 a.m. of the second business day after the trade date; in the case of an on-market tender offer transaction that is executed and settled on the same day, it shall do so, at the latest, by 6 p.m. of the first business day after the trade date.
  2. A securities broker shall report correction of an account number in accordance with the investor's instructions regarding account numbers before and after correction and the "Application for account number correction" agreed upon between the investors. If the account number prior to correction was the number of a vacated account, the securities broker shall provide verification of such fact.
  3. A professional institutional investor requesting an account number correction in a manner consistent with the requirements on method of brokerage trading under Article 75 of the Operating Rules may not be required to submit the application in the preceding paragraph, in which case the securities firm shall keep the related information. If, however, the agent authorized for old account number is different from the agent authorized for corrected account number, or the corrected account number is for a different professional institutional investor for which not the same agent is authorized, the securities firm shall keep the agreement information showing the above expression of intent by both parties for the old and the new corrected account number.
  4. A securities firm shall retain the records about account number correction requested in accordance with paragraphs 2 or 3 above for a minimum of five years.