ETFmatic uses Barclays Bank Ireland PLC, Brussels Branch, as the custodian for all client money accounts. All safe custody assets and any client monies in process of being invested are held with Saxo Bank A/S in an account in the name of Aion SA/NV.
Both client money and safe custody assets are at all times held according to the FSMA rulebook, protected by appropriate acknowledgement letters issued by the relevant custodians, and are covered by the Belgium Guarantee Fund.
Does this mean that the ETFs are not actually held in my name? They are held under ETFmatic Global Nominees Ltd.? or am I misunderstanding?