How Do Omnibus Accounts Work?

An omnibus account allows for managed trades of more than one person, and allows for anonymity of the persons in the account. ... Transactions within the account are carried out in the name of the broker, protecting the individual identities of the two or more people invested in the omnibus account.

What is an omnibus deposit account?

"Omnibus deposits" are deposit accounts owned by many people that are issued by the bank to a fiduciary or custodian for the benefit of its customers through a single omnibus bank account.

What is an omnibus number?

Business Terms Print Email. “Omnibus” refers to an item which has a number of other items inside it. For example, a book has several different stories of different authors will be called omnibus.