An omnibus account
is an account carried by one futures commission merchant with another futures commission merchant in which the transactions of two or more persons are combined and carried in the name of the originating broker, rather than designated separately.
One of the major concerns for investors was with swaps, but here the customer has an omnibus account
, where the custodian keeps the account under the client's name with confirmation given that the clients own this stock, so the legal ownership is there, while custody remains with the company.
Department of Treasury announced here Thursday a USD 152 million agreement with Clearstream Banking of Luxembourg, to settle its potential civil liability for "apparent violations surrounding Clearstream's use of its omnibus account
with a U.
The SEC on February 15 sued 'unknown' traders who used an 'omnibus account
' and invested almost $90,000 in Heinz option positions the day before the deal was announced.
This acts as an omnibus account
and maps multiple accounts on internal MT4 side to one account in external system.
SaveDaily said at the heart of its transactional model is an omnibus account
, which allows the pooling of multiple smaller investments into a single large aggregated transaction that is executed at the completion of the trading day when the mutual fund pricing or net asset value is established.
In response to current industry trends and demands, DTCC Payment aXis now supports commission and fee payments for omnibus account
as well as Contingent Deferred Sales Charge payouts, 12b-1 fees and numerous other fee types.
The introduction of omnibus account
indicates the readiness of QSE in introducing the derivatives, which is expected to come once CCP is in place.
BNY Mellon's first 529 client is a broker dealer, which can now benefit from rolling up the trades of its 529 plan clients into a single omnibus account
for each 529 plan in which its clients participate.
Existing investors--in their own name or as beneficial owner of shares held in someone else's name--for example, a nominee, custodian or omnibus account
holding shares for the benefit of an investor would not be eligible to open a new account for its own benefit or for the benefit of another investor, but the investor would be eligible to open a new account in the Fund;
The revision gets sticky for certain recordkeepers and firms that roll up trades into one omnibus account
and, within the recordkeeping system, then allocate portions of those accounts to shareholders.
Financial intermediaries and group retirement plans may purchase M shares at net asset value through an omnibus account
arrangement without any additional distribution fees.