What is a CDI?
A CREST Depository Interest (CDI) is a UK investment that represents an investment listed on an exchange outside the UK. We use CDIs to allow you to trade international shares in your account.
CDIs are needed because you can't settle international shares directly in CREST (Certificates Registry for Electronic Share Transfer). CREST is the electronic system for holding financial securities, and settles transactions for UK and Irish stocks.
When you buy or sell an international share in your AJ Bell Youinvest account, CREST issue a CDI. This lets you buy or sell the international share and settle it in GBP – exactly as you would for a GBP share.
CREST issues CDIs for each share in an international company, with each CDI the equivalent of one share of the underlying company. Dividends are paid on CDIs in the local currency of the investment, and converted to GBP before being credited to your account.
Keep in mind that an FX charge (for converting the international currency to or from GBP) applies when you buy or sell an international investment, as well as when you receive dividend income and during certain corporate actions. Please see our charges and rates for more information.