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How are my US holdings and Cash protected?


Guest cx163

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Dear all,

Just would like to know that, How are my US holdings and Cash protected? For example, if i purchased a stock(lets say Apple), do I entitle to that unit of Apple shareholder and I am the actual owner of that share? Or I am just a beneficial owner of IG and not directly own that share(similar to Vanguard's ETFs)?

Thank you.

Best Regards.

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25 minutes ago, Guest cx163 said:

Dear all,

Just would like to know that, How are my US holdings and Cash protected? For example, if i purchased a stock(lets say Apple), do I entitle to that unit of Apple shareholder and I am the actual owner of that share? Or I am just a beneficial owner of IG and not directly own that share(similar to Vanguard's ETFs)?

Thank you.

Best Regards.

Hi cx163,

Your shares are held in a segregated client accounts under nominee arrangements with approved custodians. This means that they’re easily identifiable as client assets and, as with cash, IG and its creditors don’t have any charge, liens, or rights of set-off or retention over them. Your shares may be pooled with other clients’ shares, but never with shares owned by IG.

Under Share Trading with IG, shares purchased are held by Citi in a direct custody capacity. Shares purchased through IG are registered in CHESS under Citicorp Nominees Pty Limited, with a CHESS Participant Identification Number (PID) 20018. They are held on the client’s behalf by Citibank Pty Ltd. UK and US shares are held by Citibank N.A. German shares are held by Citigroup Global Markets. The clients are the ultimate beneficial owners.

I hope that it helps.

All the best - Arvin

 

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Dear Arvin,

Thank you for your prompt response.

According to your reply, the cash are deposit in an individual account in Citi, and all the share direct owner is Citi, but we are ultimate beneficial owners, as long as Citi not run into bankruptcy,  all the shares and cash are secured by Citi.

Am I correct?

 

Thank you.

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1 hour ago, Guest cx163 said:

Dear Arvin,

Thank you for your prompt response.

According to your reply, the cash are deposit in an individual account in Citi, and all the share direct owner is Citi, but we are ultimate beneficial owners, as long as Citi not run into bankruptcy,  all the shares and cash are secured by Citi.

Am I correct?

 

Thank you.

Hi cx163,

You can have a look into this page if you are in AUS, if you are located in UK refer to this page.

They contain all the information around client money protection and Shares under custodian model.

If you need further information please reach out to helpdesk.uk@ig.com or helpdesk.au@ig.com the helpdesk will be able to provide you with further information.

All the best - Arvin

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