A group account allows individual accounts to pool resources. Sub-accounts are subject to master account settings.
First you’ll set the master account, and then you’ll select the sub-accounts. Accounts can be added only to a group that has a single location.
To create a new group account
1. Go to Accounts > New Group Account.
2. Select the Make Master Account check box.
3. Choose the group relation type.
Borrow from master account: Sub-accounts are allowed to use a percentage of the master account's available purchasing power to cover margin requirements. You’ll set the purchasing power parameter at the end of this procedure.
Joined purchasing power: Purchasing power of the master and sub-accounts is combined and used to cover the sum of margin requirements of the master and all sub-accounts.
Comargined accounts: The positions of the master and sub-accounts are combined to produce a net position, which is subject to margin requirements. For example, if a master is long 2 EP and the sub is short 5 EP, the net position is short 3 EP. It’s the short 3 EP that is considered when applying risk checks.
4. Click Save. The Group Account Info page opens.
5. In the Add Sub-Accounts sections, search for an existing account by account ID, account name, FCM account number, sales rep number, sales rep name, or sales rep ID in the search field.
6. Click the Add button for the account you wish to add.
7. Click the Save button. The sub-account is listed in Sub-Accounts section of the page.
8. In that section, enter the percentage for purchasing power in decimal format. For example, 25% is entered as .25. 100% is entered as 1.0.
9. Click Save.
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CAST Users > CAST Permissions > Account Management > Complex Accounts > Create Group Account
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