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Adding Advisors, STL and Multiple Hedge Fund Accounts to a Fully Disclosed Broker Account

If you are a Fully Disclosed Broker, you can add the following types of institution accounts to your account structure from your master account:

These institution accounts can have their own client, sub or fund accounts, making your account structure a three-level account.

For detailed rules governing three-level Fully Disclosed Broker accounts, see Rules for Three-Level Fully Disclosed Broker Accounts.

Adding an Advisor Account

To add an Advisor to your Fully Disclosed Broker account

  1. Click Manage Clients > Create and Link Accounts > Create > New. 
  2. Click Client Invitation to send an invitation to initiate a fully electronic application process. Currently, only fully electronic applications are available for adding an advisor to a Fully Disclosed Broker account.
  3. The client begins his or her application by selecting Financial Advisor as the account type, and then completes an Advisor Account application. Financial and trading criteria are applied separately at the advisor and advisor client levels.
  4. After the advisor application has been approved, the advisor can log into Account Management with his own username and password, and then add one or more client accounts on the Manage Clients > Create and Link Accounts > Create > New page. Fully Disclosed Brokers cannot add client accounts to the Advisor account; these must be added by the advisor.

As a Fully Disclosed Broker, your trading qualifications (products you are qualified to trade) determine the trading qualifications that are available to the new advisor and the advisor's clients.

Adding an STL Account

To add an STL account to your Fully Disclosed Broker account

  1. Click Manage Clients > Create and Link Accounts > Create > New. 
  2. Do one of the following:
  1. If you selected the fully electronic application, the Broker Client Invitation page opens. Complete this page, including entering the name and email of the applicant, and then click Continue. The invitation will be sent to the email address you enter and the client completes the application.

If you selected the semi electronic application, you will be prompted to selected the account type for the new client. Select Institution as the account type, and then click Continue. The account application opens. This client will be the Proprietary Trading Group STL Master user.

If you selected the paper application, you will be prompted to selected the account type for the new client. Select Institution as the account type, and then click Continue. Complete the steps as described on the screen to print the paper application.

  1. After the application has been completed and approved, the new client can log into Account Management with his own username and password, and then add sub accounts from the Manage Traders > Traders > Create > Authorized Trader page. Fully Disclosed Brokers cannot add sub accounts to the STL account.

The STL and its sub accounts belong to the same beneficiary.

Adding a Multiple Hedge Fund Account

To add a Multiple Hedge Fund account to your Fully Disclosed Broker account

  1. Click Manage Clients > Create and Link Accounts > Create > New. 
  2. Do one of the following:
  1. If you selected the fully electronic application, the Broker Client Invitation page opens. Complete this page, including entering the name and email of the applicant, and then click Continue. The invitation will be sent to the email address you enter and the client completes the application.

If you selected the semi electronic application, you will be prompted to selected the account type for the new client. Select Multiple Funds as the account type, and then click Continue. The account application opens. This client will be the Multiple Hedge Fund Investment Manager user.

If you selected the paper application, you will be prompted to selected the account type for the new client. Select Multiple Funds as the account type, and then click Continue. Complete the steps as described on the screen to print the paper application.

  1. After the multiple hedge fund application has been approved, the Fund Investment Manager can log into Account Management with his own username and password, and then add one or more fund or SMA accounts on the Manage Funds > Funds > Create > New page. Fully Disclosed Brokers cannot add fund or SMA accounts to the Multiple Funds account; these must be added by the Fund Investment Manager.

For more information