Street name

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Street name

Registration under which securities maybe held by a broker on behalf of a client but be registered in the name of the Wall Street firm.

Nominee Name

The brokerage or other company that is the legal owner of a security held on behalf of a client. Even though the client is the actual owner, the nominee holds title to the security because this makes the legalities of transferring the security easier if and when it is sold. The nominee must turn the security over to the client if requested. The nominee name is also called the street name. See also: Beneficial Ownership, Safekeeping.

street name

Used to describe registration of a customer-owned security in the name of the brokerage firm holding the certificate. A security is held in street name to simplify trading because no delivery of or signature on the certificate is required, or because the certificate is being used as collateral in a margin account. See also delivery instructions.

Street name.

Street name is a way to identify stock that is registered in a broker-dealer's name rather than in the name of the actual, or beneficial, owner.

Stock registered in street name is also said to be held in nominee name. The advantage of having your stocks registered in street name is that the shares are secure and at the same time can be traded more easily. That's because you don't have to sign and deliver the stock certificates before a sale can be completed.

There's an advantage from the broker-dealer's perspective as well, since stocks held in street name can be used to complete a trade or in other transactions, subject to regulatory limits.

References in periodicals archive ?
There will be 6,600 unique street names, and 240 district names.
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But new cabbies who have undergone training with the new street names have an issue.
We felt naming the development in honour of Clairville Stadium and selecting athleticthemed street names would be a fitting tribute.
com spent two months studying the effect of street names on house values and found rude roads are priced an average of 22% less than those just 400m away.
The words End, Cross, Side, Wharf, Walk, Park and Meadow remain banned, but can all be used in a street name if it ends with an "appropriate suffix", such as Mile End Road.
To find interesting new street names, municipality staffvisited elderly people to hear of local traditions, placenames and traditions to commemorate on street signs.
Researchers asked 2,000 people to vote for the street name they would be most embarrassed to have as their address.
Proposed street names must be submitted to the Board of Selectmen for new subdivisions before preliminary or definitive plans are submitted to the Planning Board.
The street names are chosen by a specially created committee for Onwani (Arabic for "my address") under the DMA and many are yet to be decided.
Although there is no national guidance that stops apostrophes being used, for many years the convention we've followed here is for new street names not to be given apostrophes.
Explaining the rationale behind the plans, a council spokesman said: "Our proposed policy on street naming and numbering covers a whole host of practical issues, many of which are aimed at reducing potential confusion over street names.