Cash account
·
Total equity=Market value + cash + money market
funds
·
customer can hold Stocks/bond certificates
·
safekeeping, street name, Broker/dealer can hold
customer stock/bond certificates
·
firm can NOT hypothecate, lend securities or danger
the ownership of stocks/bonds
·
b/d MUST Keep securities separate and safe
A purchase of stock done regular way in a cash account shall
be paid for on what day?
·
3 business days after trade
·
regular way-3 business days
·
cash transaction, same day
