Who is the owner of the instruments I buy?

Any instruments you buy through Lightyear are yours.

You are the beneficial owner of any stocks and ETFs you buy and they are held in a clients' assets account on your behalf. You retain all the rights and benefits of being a shareholder, and Lightyear, where possible, also provides information about corporate events. Your US stocks may allow you to vote in shareholder meetings.

US shares are registered with the DTCC (Depository Trust and Clearing Corporation), which is the central securities depository of the United States.

For European shares, we partner with several CSD’s (Central Securities Depositories), examples of which include Euroclear, CREST and Clearstream, depending on which market the security is traded and hence registered. Your Baltic instruments are held in the Nasdaq Baltic Central Securities Depository.

You own the money market fund (MMF) units you buy. The units are held in an omnibus account in Lightyear's name. This is standard broker practice, so Lightyear holds all customers' MMF units pooled together in one account, and tracks each customer's individual share internally in its own records.

The assets are held at JP Morgan as the depositary institution. JP Morgan acts as the custodian holding the underlying assets of the MMF on behalf of the fund. Your MMF assets are held separately from Lightyear's own assets in a segregated custody structure.

See also: How are my assets protected?