CASS 9.2 Prime broker's daily report to clients
- (1)
1A firm must make available to each of its clients to whom it provides prime brokerage services a statement in a durable medium:
- (a)
showing the value at the close of each business day of the items in (3); and
- (b)
detailing any other matters which that firm considers are necessary to ensure that a client has up-to-date and accurate information about the amount of client money and the value of safe custody assets held by that firm for it.
- (a)
- (2)
The statement must be made available to those clients not later than the close of the next business day to which it relates.
- (3)
The statement must include:
- (a)
the total value of safe custody assets and the total amount of client money held by that prime brokerage firm for a client;
- (b)
the cash value of each of the following:
- (i)
Cash loans made to that client and accrued interest;
- (ii)
securities to be redelivered by that client under open short positions entered into on behalf of that client;
- (iii)
current settlement amount to be paid by that client under any futures contracts;
- (iv)
short sale cash proceeds held by the firm in respect of short positions entered into on behalf of that client;
- (v)
cash margin held by the firm in respect of open futures contracts entered into on behalf of that client;
- (vi)
mark-to-market close-out exposure of any OTC transaction entered into on behalf of that client secured by safe custody assets or client money;
- (vii)
total secured obligations of that client against the prime brokerage firm; and
- (viii)
all other safe custody assets held for that client.
- (i)
- (c)
total collateral held by the firm in respect of secured transactions entered into under a prime brokerage agreement, including where the firm has exercised a right of use in respect of that client's safe custody assets;
- (d)
the location of all of a client's safe custody assets, including assets held with a sub-custodian; and
- (e)
a list of all the institutions at which the firm holds or may hold client money, including money held in client bank accounts and client transaction accounts.
- (a)