Global Custody and Clearing Limited (GCCL) is a wholly-owned subsidiary of LOM Financial Limited that provides custody services to LOM affiliates. GCCL operates an international network of top-tier global banks for the sub-custody of client assets. We maintain numerous institutional counterparty relationships with financial firms around the world to meet our clients’ varied investment and trading needs.
Unlike private offshore banks’ custodial services, we do not carry client cash and assets on our balance sheet; GCCL holds client assets ‘in Trust’ on behalf of customers.
GCCL’s Operations and Settlements department conducts daily trade settlement, clearing and reconciliation of securities and multiple currencies, collection of dividends and interest and execution of corporate actions such as stock splits, corporate spin-offs, ISIN or name changes.
The Trade Desk handles order flow to international exchanges and markets. Orders may be routed electronically or manually. The desk is able to facilitate the execution of stocks and bonds, options, derivatives, currency foreign exchange transactions, gold and other precious metals that are held in custody.
On larger currency trades, the Trade Desk is able to go straight to the foreign exchange spot market and provide a competitive quote for multiple currencies.
In certain circumstances, we are able to arrange a special separate custody account with one of our custodians, The Bank of New York Mellon, for client accounts greater than US$40 million in value.
Licensed to conduct Investment Business by the Bermuda Monetary Authority.