You have the option to set up any number of custodian accounts within a transaction portfolio.
Custodian accounts can be used to segregate holdings in the same was as sub-holding keys (SHKs). Advantages of custodian accounts over SHKs may be:
LUSID automatically establishes connections between custodian accounts and legal entities mastered in LUSID.
Custodian accounts are simpler to manage (create, read, update and delete).
Custodian accounts have their own tax lot accounting methods, so you can manage liquidation strategies at a more granular level.
You can set up mechanisms to automatically assign transaction movements to different custodian accounts, so for example the purchased stock units of a
Buytransaction to aHSBC-Stockcustodian account, and the corresponding cash outlay to aHSBC-Cashaccount.
Consider the following structure:
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To get started, see how to create custodian accounts.