1. Log into Account Management and select the Funds Management and then Position Transfers menu options.
2. From the Transfer Method drop-down list select ACATS - US Broker Transfer.
3. From the Type drop-down list select either Full or Partial.
a. Please note that the Full election does not require that you specify any assets as an attempt will be made to transfer your account in its entirety. Account holders should note, however, that certain positions may not be on the list of securities eligible to trade at PT and others, while transferable, may be subject to a house margin requirement higher than that of the delivering broker. In the event PT receives an asset list from the delivering broker which includes ineligible positions or the aggregate of the positions transferred are such that a margin deficit would exist were the transfer to occur, PT will attempt to contact you to remedy the situation within the allocated time frame after which an automatic reject of the full transfer would take effect. Account holders may wish to minimize potential delays or problems associated with a Full transfer request by verifying security eligibility and margin requirements via the Contract Search Engine prior to initiating the transfer.
b. Note that the symbol for the Partial transfer election will require that you specify the positions you wish to transfer on step 5.
Please be sure that you verify that you have chosen the correct security when you enter your positions in the partial transfer process. Often times the same ticker symbol is used on different exchanges for different securities. If you enter the right symbol but choose the wrong exchange the system will populate the name of the security that matches the security that is held on the exchange that you entered causing the wrong security to be entered into the account transfer request. If the security is incorrect it will cause the account transfer to be rejected. (You do not have to enter the individual securities when you are transferring your entire account.) Please feel free to call us at 1-800-50-PLACE (1-800-507-5223) or directly at 1-919-719-7200 if you have any questions or would like us to help you with any part of the transfer process.
4. From the Type drop-down list select the delivering broker.
Please note that certain brokers maintain multiple Participant account numbers with DTCC and account holders are encouraged to confirm with their delivering broker the account number to be associated with the transfer request.
5. On the Deposit & Transfers/ACATS Request form:
Please enter the account number as reflected on your delivering broker account statement (the number of the account that you are transferring to PT) and respond to questions regarding the existence of a margin loan, short positions and option positions. Note that certain short stock positions may not be transferable if PT is unable to locate and borrow. In the event of a ‘Partial’ election, you will need to provide additional detail (product identification, number of shares/contracts, long/short designation) as to the stock, option, mutual fund, bond or cash position you wish to transfer.
6. Provide electronic signature authorizing the transfer:
Please note that brokers generally freeze the account during the transfer period to ensure an accurate snapshot of assets to transfer and may restrict the transfer of option positions during the week prior to expiration. You may wish to check with the delivering broker to verify their policy in this regard. In addition, please note if your PT account is currently maintaining positions on margin, any cash withdrawals or adverse market moves could increase the likelihood that your account falls out of margin compliance during the transfer period which may delay or prevent completion of the transfer.
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