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Placement Account

Details of Placement Accounts

 What is a placement account?

A placement account is a house account in your intermediary's name. FinClear books a single sale against it to bring in the full DVP amount, either from the share registry (Lead Manager deals) or from the market (non-lead deals). Your client allocations are then booked out from this position.

Does my placement account need a CHESS HIN?
  • Lead Manager deals: yes. FinClear needs a HIN on the placement account to liaise with the share registry so the stock can be allotted before settlement.
  • Non-lead deals: no. The placement account is required for DVP settlement, but it doesn't need a HIN.
What else is linked to the placement account?

The company's bank details for the placement payment, and your own bank details for any fees to be remitted. See Payment to the company and fees above.