Clients managing an account with a U.S. broker can request a transfer of that account to MEXEM via a process referred to as ACATS (Automated Customer Account Transfer Service). This process allows for the electronic transfer of securities and cash through the depository with completion of the process taking anywhere between 3 to 8 business days.
Step 1: Go to Transfer & Pay followed by Position Transfers, select your Transaction Type and select ACATS as your method.
Step 2: Supply Delivering Broker Information (e.g. the firm you are transferring assets from)
If you would like to use previously saved broker information, select Yes and select the information you would like to use.
If you are providing new broker information, choose No and:
- Select your delivering broker name and DTC participant # from the drop-down list (please contact your U.S. broker to confirm this detail);
- Provide your account number at the delivering broker;
- Confirm your account title. This title at MEXEM and the delivering broker must be identical;
- Identify the type of account you have at the delivering broker (note that this must match your MEXEM account type for the transfer to complete);
- Enter your Tax Identification Number if a U.S. taxpayer and that information is not already on record with MEXEM. If you are a non-U.S. person, check with your transferring broker to verify whether they have a U.S. Tax Identification Number on record for your account and, if so, enter it here;
- If you intend to transfer additional accounts from this broker in the future, you may save the information. Otherwise, select No.
Step 3: Provide Transaction Information
You will be asked if you are transferring all assets.
If Yes, follow the on screen prompts and click continue.
If No (e.g. a partial transfer), click the Add Asset button to add each position:
- Select your asset type.
- Select Search by: Symbol, ISIN or CUSIP.
- Provide Additional Information for the asset.
- Click “Search”.
- Select your Asset from the list and provide information on Quantity, Quantity Type and any other requested information.
- Click “Add”.
- Click “Continue” and provide your electronic signature to initiate the process.
Please Note: If transferring all assets and your account contains mutual funds not offered by MEXEM, you may request that those funds be removed from the transfer request and remain with your current broker. This will lower the probability of your transfer request rejecting.
You may keep track of the status of your transfer request through the Transfer & Pay and Transaction History menu options in Client Gateway/Account Management.
For an overview of ACATS, please see the Position Transfers page on the MEXEM website.