No. Unlike Australia, the US sharemarket does not have a central depository, settlement and clearer. They use large custodians (nominees) who are responsible for the safe-keeping of investors assets. This means they are responsible for managing the books and records of the accounts under their custody. DriveWealth is the manager of the books and records for your accounts at Electronic Transaction Clearing.
Modified on: Thu, 30 Jan, 2020 at 10:46 AM
Did you find it helpful?Send feedback