SECSHELD - Securities Held
What is SECSHELD
This is a simple maintenance task to record details of any 'securities/guarantees' that are held by the Operating company as collateral for a clients trading activities.
Examples are; cash that is deposited by the client and converted to an interest bearing bond, the client may have an independent bank guarantee setup.
Where a client has lodged some shares as collateral, the details of the share holding are entered using a TCCM code to define the stock and to provide a current market price for the purpose of valuation after applying the company ‘haircut’ percentage.
The details recorded are reported in the EQUITY procedure to illustrate if the call is covered or not.
CLIDOC and CLI/Risk also use these evaluations.