CREST Depository Interest explained

CREST (a securities depository for UK shares) issues CDIs and each of these is the equivalent of one share of the underlying company. Allowing customers to invest in international stocks which are settled through CREST like a regular UK share.

Smart Investor currently offers a limited number of CDIs on the platform today, and with the introduction of International Trading, some CDIs will also be available alongside the primary listing of the share on the primary exchange.

CDIs offer access to some International markets, but don’t offer full market coverage and will typically focus on the largest companies and larger markets.

International Trading on Smart Investor offers customers access to primary listings on the underlying exchange, therefore, offers greater coverage to the International markets being introduced.

With the introduction of International Trading, customers will have the ability to transfer international shares from a number of markets in North America and Europe.

Customers can find a list of International assets that can be transferred to Smart Investor by searching for assets in the Find Investment section.

Please bear in mind, that if you currently hold a CDI and are looking to transfer the CDI to Smart Investor, we may not be able to receive this if it is not already on the Smart Investor platform.

Please check here for the full list of CDIs currently available on the platform before instructing a transfer.

If the CDI you hold is currently available we can transfer the stock to your Smart Investor account. If the CDI isn’t on the list of available CDIs we will instruct a sale of the asset and transfer the proceeds to your account as cash. Alternatively, you may wish to instruct your current provider to sell the asset ahead of arranging a transfer.

Please note, we will not reinvest this cash without an explicit instruction from you once your cash has been transferred to your Smart Investor account.

The value of investments can fall as well as rise; you may not get back what you invest. If you’re not sure about investing, seek independent advice. Before transferring your investments, find out about any charges, exit penalties, benefits you may lose or investments that you can’t transfer to us.