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I. Introduction
Third Party Depositary (multi-bank model) is a bank-securities service designed to provide the services of trading settlement and capital custody for individual investors and securities companies. Under the service, clients can realize transfers between banks and securities companies through third party depositary, and make inquiries about the current-day details, historical details, and capital account balance of the Client Trading Settlement Capital Management Account.
II. Target Client
The service applies to clients who have opened shareholder account at the sales department of the securities company, subscribed for stock designated trade, and signed up for ICBC E-Banking.
III. Features
1. Capital safety. ICBC works with the Securities Regulatory to check the margins in Summary Account (Securities Company) and Management Account (ICBC), so as to make sure your margin is correct.
2. Speed and Convenience. All details on the account are available once you signed up for the service via ICBC E-Banking.
3. Comprehensive services. Besides all the services available by the functions of ICBC personal settlement account, you can also enjoy the different value-added services offered by ICBC and the securities company, hence integrating saving, investment and spending.
4. Large Scale. The service is connected to all the headquarters of securities companies under one nationwide network. You are using one standard service regardless of where you are in China.
IV. Application Condition
Registered clients of ICBC E-Banking holding ICBC current deposit settlement account (ICBC Money Link Card, Elite Club Card, or current deposit book).
V. Sign up
To sign up for the Third Party Depositary service, please consult the sales department of the brokers to make sure that they cooperate with ICBC to provide the function. After confirmation, please bring your valid ID card, bank card for securities (issued by securities companies) and the settlement account of the same bank to process relevant procedures at any ICBC branch. Please fill in "Application Form of Third Party Depository" and sign the "Three Party Agreement", and submit the Agreement to ICBC counter to confirm that It has been stamped by the securities company (or its sales department).
Ⅵ. Service Channel and Time
You can enjoy self-service of registration, transfer, and inquiry of the third party depositary through Internet Banking, Telephone Banking, Mobile Phone Banking (WAP) at 8:30—16:00 from Monday to Friday. For detailed of the trading time, please refer to the regulations of each security company. (Note: this function is only used by some of the brokers.)
Ⅶ. Tip
You can apply transactions of bank-securities transfer both through ICBC and the system of the securities company. For details, please consult the sales department of the specific securities company.
Ⅷ. Considerations
1. Please make an application to the securities company to cancel the Third Party Depositary service.
2. The current ICBC Third Party Depositary service is only available in RMB.
3. One of the major functions of Third Party Depositary service is bank-securities transfer, based on which investors are provided more channels to inquire their bail balance and its changes, so that they can timely supervise their bail in the security company.
Ⅸ. Definition
1. Securities Company: also referred to as "broker", are the securities companies that cooperate with ICBC for this service. ICBC will register the code and other relevant information for each cooperating securities company. The securities company code is an 8-digit number, that is, the No. 3 system of brokerage coding set by China Securities Regulatory Commission.
2. Sales Department of Securities Company: refers to the operating agency of the securities company that take charge of the securities brokerage business.
3. Clients: refers to the personal or corporate investors who have signed securities commissioned agency agreement with the securities company and have opened securities capital account in the company. In the scope of this business, clients can also be called "investors".
4. Client securities capital account (book account): refers to the capital book account that investors open in the securities company specifically for securities trading, which corresponds with the client trading settlement capital management account that the investor opens at the depositary bank. The securities company can operate front-end control, clearing and settlement, and interest payment for the investors' securities trading through this account.
5. Client Trading Settlement Capital Management Account: for clients who choose ICBC as the depositary bank, ICBC will open the client trading settlement capital management account ("management account" in short) for them to manage the capital data of trading settlement for securities trading. It is a virtual account without authentic capital. The account reflects the particulars of the balance changes of investors' securities trading settlement capital, and records the corresponding relation of bank-securities transfer between clients' bank settlement account and securities capital book account. Responsibility Statement: The contents on this page are for reference only. The ultimate power of interpretation is under the Industrial and Commercial Bank of China Limited. For part of the contents, notice and specific regulations of local branches shall prevail.
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