When will the 2019 tech IPOs (Lyft, Uber, Pinterest, Zoom, etc) be on Freetrade?

As you might have heard in the April meetup, we’re focusing on building our new Investment Platform, so we can add thousands of stocks to our app very quickly. (If you haven’t yet checked out our app, you can try it here).

Meanwhile, you’ll see a little bit of slowing down before we can speed up.

We can see that many existing US stocks are among our most popular:

OK, but how about this year’s new US IPOs?

Lyft, Pinterest and Levi’s have all gone public recently and many expect the likes of Uber and Airbnb to join them soon. :bank:

We can already see high demand for these in our app:

We’d love to introduce these stocks to Freetrade instantly, but in order for us to do so, we currently need something called a CDI.

What’s a CDI? :tipping_hand_woman:

A CREST Depository Interest (CDI) is a UK security that represents a stock traded on an exchange outside the UK, in this case, the US. CREST itself is the central depository which holds UK equities and gilts as well as Irish equities and other international securities.

Great, so when will a CDI be created for my favourite stock?

This depends on the individual stock.

Generally, the higher the demand in the market for the stock, the more likely it is a CDI will be created in the UK. CDI’s are expensive to create, so unless there is this large demand out there, a market maker (an institution which buys and sells large quantities of a stock, creating liquidity) won’t go out there and create one.

Once a CDI has been created, we can then explore introducing this stock onto the Freetrade app. But it’s out of our control for now, and we can’t give definitive dates on new stocks.

Here’s our 2019 IPO tracker:

Stock IPO’d yet? CDI created? On Freetrade?
Airbnb Rumoured :eyes:
Beyond Meat Public :bank: :white_check_mark: :white_check_mark:
Bumble Rumoured :eyes:
Cloudflare Public :bank: Not yet :x: Not yet :x:
CrowdStrike Rumoured :eyes:
Datadog Filed :briefcase:
Fiverr Public :bank: Not yet :x: Not yet :x:
Grail Rumoured :eyes:
Health Catalyst Rumoured :eyes:
Lemonade Rumoured :eyes:
Levi’s Public :bank: :white_check_mark: :white_check_mark:
Lyft Public :bank: :white_check_mark: :white_check_mark:
Medallia Rumoured :eyes:
PagerDuty Public :bank: :white_check_mark: :white_check_mark:
Palantir Rumoured :eyes:
Peloton Public :bank: Not yet :x: Not yet :x:
Pinterest Public :bank: :white_check_mark: :white_check_mark:
Postmates Filed :briefcase:
Robinhood Rumoured :eyes:
Slack Public :bank: :white_check_mark: :white_check_mark:
Stripe Rumoured :eyes:
Uber Public :bank: :white_check_mark: :white_check_mark:
WeWork Filed :briefcase:
Zoom Public :bank: :white_check_mark: :white_check_mark:

And there’s good news!

As mentioned above, we’re creating the Investment Platform, and we won’t have to rely on CDI’s forever. :raised_hands:

We’ve used them up to this point as they were the best way for us to introduce US stocks.

However, as part of our Investment Platform, we’ll be able to offer direct access to US stocks very quickly after they’ve launched. We’ll be doing this later in the year.

As always, the best place to get updates on new stocks is right here on the forum.

In the meantime, you can also vote for your favourite US stock.

Stay tuned for updates! :us:

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Great post, thanks for sharing.

I like the tracker, is it live somewhere?

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Great share, which deserves being featured on Freetrade Blog for those who are not part of the community!

I always long for posts like this, hopefully, there will be more to share once the investment platform will get closer to a definitive shape :wink:

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And a definitive date too :wink:

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Freetrade are no longer fans of giving dates :stuck_out_tongue:

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There are exceptions..but not this time :smile:

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Spoil sport @alex.s :grin:

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Very helpful to know. Thank you!

Is there a cost FT incurs for every security you hold? Whether people trade them or not - I believe I’ve seen some disappear - so I’m wondering if lack of demand means you drop stocks?

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Good post! Btw, Zoom is already public :wink:

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We’ve not removed any stocks because of cost so far. There’s been some that’ve disappeared from the app because of corporate actions e.g mergers.

There’s an administrative cost for us that comes from, handling those types of events too so each stock that we add increases our costs.

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Wow surprised Amazon is so high up! Clearly some pretty big portfolios on freetrade or some people don’t diversify much.

Ahh helpful.

Yes I noticed 2/3 disappear perhaps due to a merger or something.

Is the cost one off or ongoing operating cost

Asking as a newly minted investor of FT now :smiley:

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The cost is ongoing, each time one of those events happens we have to handle them, which takes up our time.

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Thanks, fixed! :pray:

Okay, what about for regular stocks like BT? Your fave lol

Do you pay an ongoing cost to support each individual stock?

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We’ll keep this post updated!

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Haha :snail:

I can’t go into too much detail about our costs, sorry!

Haha I didn’t want the figures - just the model.

If its a per month, per stock charge - I understand the rationale for slowly growing stocks.

If its one off then hopefully more will land soon.

The broker platform is exciting though.

It’s not a one off cost, each new stock adds cost & operational complexity :slight_smile:

It is! It’ll enable us to do a lot of cool stuff :smiley:

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I’m now way way more forgiving :wink:

Can’t wait to see the 3000 land.

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