What is CUSPA?

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 auto square-off and other statutory charges 
  • You still get corporate benefits even if your holdings are in CUSPA on the record date