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Custodian bank |
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Custodian bank Applies mainly to international equities. Bank or other financial institution that keeps custody of stock certificates and other assets of a mutual fund, individual, or corporate client. See: Depository Trust Company (DTC) How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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It represents foreign shares at a custodian bank in the issuer's home country and carries the corporate and economic rights of the underlying shares. LONDON -- The Bank of New York, a global leader in securities servicing, has received top ratings in the institutional investor and securities lending categories of this year's Global Custodian magazine Global Custodian Bank Survey. An ADR is created when a broker purchases the company's shares on the home stock market and delivers those to the depositary's local custodian bank, which then instructs the depositary bank, The Bank of New York, to issue Depositary Receipts. |
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Custodian bank
