I'm starting sharetrading. What is a Faster Identification Number (FIN) and how does it work?

Last Updated: 14 Mar 2014

FIN stands for Faster Identification Number.  This is similar to a PIN on your bankcard and identifies you as the unique holder of those shares.  Your broker will need your FIN each time you make a sell transaction. (He or she may not keep your FIN beyond settlement of the transaction).  A FIN will be automatically assigned and sent to you separately by the share registry for safekeeping when you first buy shares.  If you want to sell your first share purchase prior to being registered and receiving a FIN, you will need to discuss the options with your broker before placing your sell order.

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