Margin Enablement

This guide details the workflows to enable client accounts for margin borrowing.

To enable a client account for margin, there are two workflows for the advisor: Sign Electronically Now or Sign Remotely.

• Sign Electronically Now should be selected if the client is present in person with the advisor
• Sign Remotely should be selected if the client is not present with the advisor

###Steps for "Sign Electronically Now" Workflow

1. Determine which accounts are eligible for margin enablement

Endpoint: 'api/v2/accounts/margin/eligibility'

2. Present advisor with the following language

Choose this option if your client is present and would like to electronically sign the Margin Disclosure and Customer Agreement at this time. Margin feature will be available as soon as you complete the sign up process.

I certify that my client is physically available to sign on their own. I further certify that I am not signing the Margin Disclosure and Margin Agreement on their behalf.

3. Present client with the following language

####Enable Margin Borrowing for: [insert Account Name], [insert account type] (#[insert account number]) Enabling Margin Borrowing Feature allows you to use an eligible investment account to borrow funds from Goldman Sachs Custody Solutions for trading or cash withdrawal, using eligible securities held at Goldman Sachs Custody Solutions as collateral. Margin borrowing is not appropriate for all investors. When considering margin, you should take into account portfolio composition, risk tolerance, as well as tax consequences, portfolio performance expectations, and investment timeline.

####Margin Disclosure Statement (FINRA 2264) By signing below, I certify that:

I have received a copy of the Margin Disclosure Statement.

I have received a copy of the Customer Agreement and that the MARGIN PROVISIONS, DISCLOSURES, AND AGREEMENT section now applies to me. I also certify that neither Goldman Sachs Custody Solutions nor any of its representatives have recommended that I use margin.

4. For group accounts, present the client with the following supplementary language

By signing below, I certify that I am opening an account on behalf of an entity or a trust and the entity's or trust's organizing documents directly, or indirectly, permit the use of margin. I further certify that I am an authorized agent of the entity or trust and my authorization permits me to open a margin account.

5. Collect signature from the client

6. Make API call to enable margin

For entity accounts, you will need to set confirmMarginPermittedGroupAccount = TRUE. For all other accounts, this should be false.

Endpoint: POST api/v2/accounts/{accountNumber}/margin/enable

Payload:

{
clientLoginId: "joesmith123"
confirmCustomerAgreement: true
confirmMarginDiscloureStmt: true
confirmMarginPermittedGroupAccount: true
signatureDataList: []
 
}

###Steps for "Sign Remotely" Option

1. Determine which accounts are eligible for margin enablement

Endpoint: POST api/v2/accounts/margin/eligibility

2. Present advisor with the following language

Choose this option if your client is not present or does not want to electronically sign the Margin Disclosure and Customer Agreement at this time. We will email your client instructions to sign the Margin Disclosure and Customer Agreement electronically. Please remember that the Margin Feature will not be available until we receive the required client signatures.

3. Make API call to send email for margin enablement

This endpoint will send an email to the primary account owner for them to confirm margin enablement for the indicated account.

Endpoint: POST api/v2/accounts/{accountNumber}/margin/sign-remotely

Payload:
 
{
clientLoginId:  "joesmith123"
}

##Guidelines

• To disable margin borrowing for an account, advisors must contact Trading Services (email GSAS-TradingServices@gs.com)

• Note that margin can not be disabled if an account is in margin deficit

• Only one account of each account type is eligible for Margin at a given time, i.e. a client with Margin enabled on an Individual account cannot enable Margin on another Individual account that he or she owns

• For entity accounts, only Authorized Signatories are authorized to sign and enable Margin

##Eligible Account Types

The below table indicates which account types are eligible for margin.