Omnibus account?

#1

Does Freetrade use an omnibus account to hold our shares? Where can I find a document that covers details like this?

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(David Kent) #2

Yep they do.

Your Securities

The Custodian that holds Securities that you have acquired through our Services will have legal title to those Securities and will hold those Securities in its name – in other words, the Custodian’s name will appear on all registers, etc. that show who the owner of those Securities is. However, you will be the beneficial owner of those Securities – in other words, as between you, us and the Custodian, you are the ultimate owner of those Securities.

They will have the shares split in the custodians systems but ultimately they are grouped together.

I can’t find anything else counter to this. Maybe something the staff can clarify but I’m pretty sure it is all grouped.

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