If Jiko Securities, Inc., BNY Mellon, or MCNB were to fail, the securities in the customer omnibus account belong to Jiko customers (i.e. you) because there is no-lien language on the account, and creditors of BNY Mellon, Jiko, or MCNB cannot access those securities. Each entity would continue operation after Chapter 11 bankruptcy to guarantee the proper liquidation of customer funds. Since assets belong to the customer, without credit exposure and with a transparent chain of custody, liquidation and settlement would occur promptly, barring a system failure (e.g. cyber issue).

If you have any questions, the team is always here for you, so feel free to contact our support team.