CUSPA is an account we have at the depository where we keep your securities if you have a negative balance and haven’t fully paid for your securities. If you don’t clear the negative balance within 5 days of buying the securities, we’ll sell your stocks held in CUSPA.
Note:
- You can’t move your stocks out of CUSPA until you’ve paid for them
- Once you’ve paid, your holdings will be released from CUSPA at the end of the day (including settlement holidays)
- You can sell your holdings even if they are in CUSPA
- If we square off or sell your positions, you’ll be charged and other statutory charges
- You still get corporate benefits even if your holdings are in CUSPA on the record date