omnibus accounts

Discussion in 'Retail Brokers' started by Andron, Aug 30, 2002.

  1. Andron


    I need the broker who opens the omnibus accounts and takes the commissions per share.

    Help me!
  2. Why would you want omnibus for your own trding? Does'nt omnibus imply a bunch of people putting their money in 1 account which is then 'given' to the clearing firm for trading purposes. If the broker goes bankrupt, it is a whole lot messier to sort out with SIPC than if it is a fully disclosed clearing arrangement wherein 1 person 1 account with the clearing agent.