In order to replace a holding, you must select a valid pair of security holdings. The following rules apply:
1. You must select exactly two holdings in the Reconciliation blotter.
2. The source and target holding must be of the same security type class. There are 2 classes:
Fixed Income, CD, CMO, and Mortgage Backed security types
All other security types
Exception: security type “Other” can be replaced with any other security type.
3. The Custodian Position of the source security must be zero in order to perform the Replace Holdings function. If the custodian has a non-zero position in this security, then the Replace Holdings function is not appropriate.
4. The Account of the source security must be the same as the target security.
5. The Position Type of the source security must be the same as the target security (Long or Short).
Note: The source security is the security being replaced. The target security is the security you are selecting as a replacement.