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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 custodian bank, or simply custodian, is a specialized financial institution responsible for providing securities services. It provides post-trade services and solutions for asset owners (e.g. sovereign wealth funds, central banks, insurance companies ), asset managers, banks and broker-dealers.
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.
In the decision-making process between a custodian and a broker-dealer, advisory firms should keep in mind factors like their transaction nature, investment objectives and necessity for safety.
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
Depository Trust Company ( DTC ), founded in 1973, is a New York corporation that performs the functions of a central securities depository as part of the US National Market System. [3] DTC annually settles transactions worth hundreds of trillions of dollars, processes hundreds of millions of book-entry deliveries, and custodies millions of ...
Custodial accounts allow adults to give minors cash, securities, real estate, annuities, insurance policies and other assets more easily than setting up a trust. How do custodial accounts work?
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.
An IRA transfer refers to the movement of tax-deferred money that is not required to be reported to the IRS on your tax return.
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.