25-07-2017 01:26 AM
26-07-2017 07:32 AM
Hi @Jeridan, thanks for your post!
I can confirm that our Australian share trading service is indeed not CHESS sponsored. Instead of this, we operate on the 'custody' model, which means that instead of you - the client - being personally listed on CHESS, it is a Citicorp nominee, with yje client being the ultimate beneficiary of the shares. This is the standard practice internationally, hence we we have chosen to operate in this way. There is no real change or implication for you as an IG client.
To reassure any concerns you have regarding the safety of your holdings under such a custody model, we maintain any client shares completely segregated from IG or Citicorp's assets, and in the event of either company folding you would still receive your shares.
I hope this clarifies, but please let me know if have any further questions.
04-02-2018 05:46 AM
3 weeks ago