9.1.6 Identifying the Holder

The holder of a security can be either of the following:

• The registered
• The Bearer

If you would like the securities maintained under a product (with which you associate the Securities Preference Class you are defining) to be ‘Bearer’ type securities, choose the ‘Bearer’ option. Else, choose the ‘Registered’ option. However, when defining a product, while retaining the other preferences that default from the associated class, you can change the default Registered/Bearer indicator. While maintaining a security under a product, in the Securities Definition screen, you could choose to retain the defaulted Registered/Bearer indicator.