Freetrade don’t ‘hold’ anything, they mirror our position with Drivewealth.
Which takes you to the crux of the issue.
Theres nothing unusual about this. No broker in the UK holds your shares directly unless you give them permissions to do so. But in doing so you put your shares at greater risk.
FCA rules require shares be held in a separate custodian to provide protection of the assets from the broker. Its standard practice to hold shares with a custodian. Freetrade also aren’t ‘mirroring’ your shares, they’re not holding any of your shares at all. They are reflecting what shares you hold with drivewealth within the Freetrade platform. Same as buying UK shares, they reflect what shares you own which are held with Freetrade Nominees Limited.
True. There’s nothing unusual about these arrangement apart from GME. That’s the bit that needs unusual arrangements. GME has become the most directly registered stock in the market for a reason.
We’ve said the same thing, mirroring/reflecting.
Any custodian that had to block the buy button due to clearing housing insolvencies is part of the problem. There is risk there. And he to mirror is to reflect, no?
I was seeing mirroring as possibly being copying, which is one definition. To mirror something digitally for example is to make a copy. Which isn’t what’s happening. Reflect is more symbolic, more like to show a representation, or symbolically link but not copy.
There’s so much fud and misinfo going around on these shares. But I was probably just a bit to nit picky
I see the hype is now with BBBY, so is this the pump or the dump? Or is it just all pump, all the time?
Looks like the dump
In response to earlier I’ve been told it’s not possible to have recent corporate action shown anywhere on statements.
Cohen sold his entire stake in BBBY 2 days ago
I like the stock. Lots of bearish analysis on bloomberg and msnbc and yahoo which I enjoy watching.
Ortex are literally on r/Superstonk
I suspect credit suisse can’t find a total return swaps counterparty
Some suspect billions of shares.
Check out the Data section. Very interesting. Some real whales coming out of the woodwork recently. 88mil+!
Did everyone that wanted one get a (Stonky) share Certificate NFT? Hit me up if I missed you
Rabbit hole deepens…
Just the 90mil shares directly registered with Computershare so far. 63.5mil more before all retail shares are locked up. What do we see happening then?
I can’t wait to see what total return swaps credit suisse holds when they go under.