Varies broker to broker, how they are holding them e.g., broker sponsored, if there is an underlying custodian involved which is the case with Interactive Brokers (IB). For IB you have to opt-in, worth a call to check how your broker handles it.
Asset owners in the past have simply left this to their custodians to handle....back in the early/mid 2000's we did a heap of meeting with with asset owners (read Melb based industry funds) to pitch consolidated futures clearing, SBL programs etc. They were $7-10bn funds in those days, little internalised, everything pretty much externally managed. Different story nowadays....it's active conversations between the asset owner, the investment manager (if one exists) and the custodian.
Hope that helps.
General Discussion, page-1248
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