CREST: CREST Functionality: agent indicators
Participants entering transaction details into CREST are required to insert a code to indicate the capacity in which they are acting. The codes are:-
|P||Principal broker dealer purchase (from client or market)|
|S||Principal broker dealer sale (to client or market)|
|A||Agent broker dealer purchase or sale|
Custodians and fund managers acting for clients typically do so in an agency capacity unless, under the terms of the counterparty agreement, they take a principal role. To reflect this arrangement, the Agent Indicator field should be populated with ‘A’ when receiving or delivering stock for clients.
|N||No principal/agent broker or other investment dealing capacity.|