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Glossary · PSX term

Broker sub-account.

A sub-account is a client account held within a broker's main CDC account at the depository.

Definition

Most retail investors trade through a sub-account, where the broker maintains your holdings under its umbrella CDC participant account. It is convenient, though shares are held via the broker rather than directly with the CDC.

Worked example

When you open a trading account with a brokerage, your shares typically sit in a CDC sub-account under that broker.

Related on PSX Clarity

CDC Investor Account

Central Depository Company (CDC)

Unique Identification Number (UIN)

More glossary terms

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