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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