Account Setup and Investor Identification

What is the difference between the investor account at the SDC (central registry) and the investor account maintained by the broker?

1. Investor account at the SDC: an account that is opened on the SDC’s Database (central registry) to conduct transactions through the SDC.
2. Investor account maintained by the SDC’s broker: an account that is opened for the purposes of trading in securities in the ASE.

Why is it necessary to open an account?

Before the investor can buy and/or sell securities, and carry out any other transactions upon securities, it is necessary to open an account at the SDC database where the SDC issues a unique number for each investor called the "SDC Investor Number" by which the investor is identified in all parts of the SDC’s electronic systems and the securities’ ownership of investor is connected to that number.

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