Transfer of securities between brokers
Moving a position to an account with another professional participant without selling. The operation creates no income, but it carries the question of evidencing costs along with the securities.
How to read the number
The receiving side learns the purchase price only from the documents handed over; without them it has no grounds to recognise a cost on a future sale.
When the metric lies
The holding period and carried-forward losses do not travel by themselves — they are restored through certificates, and obtaining one from a former broker after the account is closed is markedly harder.
Also known as: moving securities to another broker