Account types are reached by navigating to System Data in the main menu and then selecting Account Types.
There are several pre-installed account types for your Bricknode Broker instance like below.
To create a new account type we simply have to click on the action button at the top right corner.
This will open the account type creation dialogue where you can define the following properties.
This is a unique key that identifies the account type. The account key can be accessed via the BFS API, among other things where the methods CreateAccounts or GetAccounts and GetAccountTypes can be used.
This is a reference to the Account Rule Type that should be used for the account type.
There are several status selections that can be made which mean the following:
No Series Key
This is a reference to account number generators which can be defined in the System Data section as well.
This is a legacy property from earlier versions where an account type could be associated with interest keys which in turn told BFS what interest rate should be used for the account. In future versions, we will integrate a function to work with account agreements in BFS where things like interest for accounts can be managed.
What we set for this property decided how the positions are going to be managed, for now we only have the AutoMerge algorithm integrated where only one position in a certain instrument can exist at the same time. If an account has a position of 100 shares in XYZ and buys another 100 shares the position will now be 200 shares of XYZ, future functions will enable separation of positions so that the user could have several positions in the same instrument if the setting is set to this.
Is Subject To Income Tax
If this property is set to true then accounts of the account type will be subject to income tax reporting.
If this property is set to true the account is not allowed to trade on margin.
If this property is set to true then accounts of this type will be available when using BFS to manage insurance policies where an insurance policy is mapped to an account to manage the balances for that insurance.