Securities transfer
Moving securities from a custody account at one depository to an account at another without selling them on the market.
How to read the number
This is how a portfolio follows a client who changes broker: ownership does not change, no sale takes place, and the market price on the day is irrelevant to the operation.
When the metric lies
Without documents evidencing the acquisition cost, the receiving broker computes the tax base from zero, and the holder is left to prove the expense personally.
Also known as: securities transfer