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 ?
Saying that the community would never forget the deputy's sacrifice, Antonovich praised the street-naming idea at a candlelight vigil Sunday night in Stevenson Ranch.