In recent years, there has been a strong move within the industry away from
certificated dealing towards the use of Nominee services, where all paperwork is dealt with by a Nominee company or custodian. There are a number of
reasons for this. With settlement three days after the Trade date, it is not
possible to deliver certificates and
transfers in time to the central UK
settlement facility, CREST, to settle transactions. This may therefore mean carrying out transactions for an
extended settlement period that
could involve a price penalty.
All discretionary accounts must be
operated on a Nominee basis, as this
is the only way that we can control
settlement of transactions. In the case
of advisory or execution-only clients, however, we appreciate that some
may prefer to retain share certificates and therefore offer the choice of
paper-based dealing.
For clients who wish to have the
simplicity of electronic settlement,
but continue to receive the flow of
corporate information from individual companies, there is also the option of Crest Personal Membership.
Further details are provided below of
the specific options available and we would be happy to provide further
information if required.
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