A custodian (also called a custodian bank) can be described as a financial institution specialised in the safekeeping of financial assets, such as equities and bonds, for a firm or an individual. The financial assets can be held in electronic or physical form. In addition to safeguarding financial assets, custodian services may also include administering voluntary and involuntary corporate actions such as dividends and rights issues.
Under Share Trading with IG, shares purchased are held by Citi in a direct custody capacity. Australian 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.