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BSE Back to Basics - 2015 - 2016 The BCSDI Statement of Account

BCSDI Statement of Account

• The Barbados Central Securities Depository Inc (BCSDI) Statement of Account acts as a shareholder’s proof of ownership of shares which are held in a dematerialized (electronic) state; there is no physical certificate (see below for example).

BCSDI Statement of Account

BCSDI Statement of Account • The full name and address of the shareholder appears on the top left-hand side of the Statement (under the company logo). • Account ID – this appears on the top right-hand side of the Statement. The Account ID is a unique identifier in the BCSDI’s system and can be used whenever the shareholder has queries about their shares. • Statement Date – this is the date at which the details of the shareholder’s statement were generated. • Name of Instrument – this is the name(s) of the security (shares) owned by the shareholder. • Balance (1) – this is the volume of shares owned by the shareholder.

BCSDI Statement of Account • Price – This is the closing price for the security. • Value – this is the value of the shares owned and is calculated as follows: Balance x Price = Value • Commit Type – This denotes an instance where a volume (or balance) of shares is committed to some activity in our systems. Common commitment types are: • Prevalidated Order – this appears when a Broker has entered an order to trade all or some portion of the shares owned on behalf of the shareholder. • Pledge – this appears when the shareholder has used all or some portion of the shares owned as security for a loan with a finance company.

• Balance (2) – In this instance, Balance refers to the quantity of shares assigned to either an order or pledge.

BCSDI Statement of Account • When are these statements used? • BCSDI Statements are generally used when a shareholder needs to provide proof of ownership usually for one of the following reasons: • Sale of shares – when a shareholder wants to sell their shares the Registered Broker requests that they provide their most recent statement to confirm ownership. • Pledging of shares – Shares are property and as such can be used as collateral form a loan. Most lending agencies will lend a maximum of 75% of the total value of the shares owned and will require a current statement to determine the value of shares owned.


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BSE Back To Basics - Understanding the BCSDI Statement of Account  
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