omnibus account

Omnibus account

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. Related: Commission house.

Omnibus Account

In futures and options, an account that one broker holds with another in which all of the first broker's sub-accounts are combined under one heading and traded in that broker's name.

omnibus account

An account carried by a member firm for a nonmember correspondent firm.
References in periodicals archive ?
On June 25, MSCI announced its decision to reclassify Kuwait as an emerging market, subject to availability of omnibus account structures and same National Investor Number (NIN) cross trades for international investors before the end of November 2019.
It added in a statement this upgrade was subject to omnibus account structures and same National Investor Number (NIN) cross trades being made available for international institutional investors before the end of November 2019.
The reclassification is subject to omnibus account structures and same National Investor Number (NIN) cross trades being made available for international institutional investors before the end of November 2019.
The lawsuits also allege that Fidelity was a fiduciary due to its practice of pooling client investments before collectively investing them in so-called omnibus accounts. The complaints allege that Fidelity maintains a single omnibus account to process trades and maintain positions that are, in turn, divided into accumulation units that replicate the performance of the mutual fund and reflect the interests held by the plans.
"As it was explained to us by UBS which holds BOC shares including Mr Vekselberg's stake on the 'omnibus account' at BNP London, it was some kind of intra-bank transaction which automatically triggered Bloomberg news," Vekselberg's spokesperson said in an email on Thursday, a day after the Cyprus Business Mail reported the transaction.
According to the SECs order, for almost three years, Magee traded securities in Valors omnibus account but waited to allocate the trades to client accounts until after the securities performance changed over the course of the day.
The sweep account represents an omnibus account in the name of DBTCA as trustee/agent for the benefit of its clients, with the daily transfer amount determined on a net basis across all SF issuers.
The program would be paid for by sharing revenues between FIS and The Florida Bar Foundation; where FIS would get 20 percent to pay expenses and costs of the omnibus account and the Foundation would get 80 percent.
CFTC rules permit operational commingling of customer assets through an omnibus account structure.
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.
Because an omnibus account is carried and cleared by another broker/dealer and contains accounts of undisclosed customers on a commingled basis, it is carried individually on the books of the introducing broker/dealer.

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