DVP Accounts
What is a DVP Account?
DVP stands for Delivery Versus Payment. These accounts
involve a settlement procedure in which the seller of a security agrees
to pay the buyer upon the security's delivery to the seller.
Many of these accounts are carried with a Prime Broker or
Custodian.
I
want to open a DVP account with your firm. At what
point should I send in the completed account opening documentation?
You will first need to make contact with a broker here and discuss the
details of your transaction. If our compliance department
approves your transaction, you can then proceed to fax or email in the
account opening documentation. If you will be
depositing shares, you will first want to complete an Equity Deposit
Questionnaire or the Quick Facts Questionnaire. See
Guidelines for Depositing OTC Securities.
What forms are required to open
up an individual account?
You must complete the New Account Application For DVP.
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