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Yet, in the modern financial world, custodian banks have started providing a wider range of value-adding or cost-saving financial services, ranging from fund administration to transfer agency, from securities lending to trustee services.
Transfer agents keep records of who owns a company's stocks and bonds and how those stocks and bonds are held—whether by the owner in certificate form, by the company in book-entry form, or by the investor's brokerage firm in street name.
A central securities depository (CSD) is a specialized financial market infrastructure organization holding securities like shares, either in certificated or uncertificated (dematerialized) form, allowing ownership to be easily transferred through a book entry rather than by a transfer of physical
A firm holding a large volume of high-value securities might consider a custodian for secure asset storage, while a firm involved in active trading would likely use a broker-dealer for their...
Managers of funds often choose to outsource some or all of these activities to external specialist companies, such as the fund's custodian bank or transfer agent. These companies are known as fund administrators.
When a company issues sponsored ADRs, it has one designated depositary who also acts as its transfer agent. A majority of American depositary receipt programs currently trading are issued through a Level 1 program.
The Depository Trust & Clearing Corporation ( DTCC) is an American financial market infrastructure company that provides clearing, settlement and trade reporting services to financial market participants. It performs the exchange of securities on behalf of buyers and sellers and functions as a central securities depository by providing central ...
One reason Cede is structured as a partnership is that each general partner can order transfers of stock registered in the name of the partnership without the need for presenting a separate corporate resolution to the stock issuer's transfer agent or stock registrar to validate the authority of the transfer.
A custodial account is a financial account (such as a bank account, a trust fund or a brokerage account) set up for the benefit of a beneficiary, and administered by a responsible person, known as a legal guardian or custodian, who has a fiduciary obligation to the beneficiary.
A custodial participant is a person who confirms a stock exchange trade on behalf of his client. Explanation. When a client enters buy/sell order for trading on a stock exchange, the trading member or stockbroker receives his order and inserts it into the Stock Exchange Trading System. Once an order is confirmed i.e. when buy/sell part gets its ...