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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.
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. They also keep records of how many shares or bonds each investor owns.
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...
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
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...
DTC moves securities for NSCC's net settlements, and settlement for institutional trades (which typically involve money and securities transfers between custodian banks and broker-dealers), as well as money market instruments.
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.
A company's security holders will be able to deposit their particular shares with a brokerage firm. Clearing firms, as full participants with DTC, handle the DTC eligibility submissions to DTC. Transfer agents were responsible for eligibility coordination years ago.
In the United States, a depository is a bank organized in the US which provides all the stock transfer and agency services in connection with a depositary receipt program.