A depository account is designed to record securities, while cash is recorded in a brokerage account. This separation is fundamental: when buying, money is debited from one account and securities are credited to another.
Records in a depository account serve as confirmation of ownership rights to securities issued in dematerialized form. Operations are conducted based on instructions and reflect the transfer of rights in transactions, as well as the crediting of securities during placement and their removal upon redemption.
Securities in a depository account remain the property of the investor and are separate from the broker's assets. This is why, if the professional participant ceases operations, they are not included in its bankruptcy estate but must be transferred to another participant.
Practical matters worth clarifying include: which depository the account is opened with, the procedure for obtaining statements, how securities transfer is handled when changing brokers, and what commissions are charged for custody and operations—these latter constitute investor costs alongside brokerage fees.