churn beneath the radar of most, page-2

Scorpion,

" UBS Securities Australia uses the nominee services
provided by Warbont Nominees Pty Ltd ("Warbont
Nominees"), during the transitional T+3 settlement
period, in accordance with the ASX Market Rules (the
"Rules") on behalf of clients of UBS Securities
Australia. The Rules require that all securities being
held for a client during this period may only be
registered under a nominee company. Warbont
Nominees is the company that has been established to
hold these securities on your behalf in accordance with
the Rules."

Here is an explanation published by UBS. Every broker operates to these ASX rules and they all have these accounts. They mean nothing expect to say that those brokers have clients who buy and sell CDU!

Why dont you talk to your broker if you want more detail on such broker accounts?