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)

Custodian Bank

A bank that holds and manages a client's securities or other assets on his/her behalf. For example, the bank may hold stock certificates for the client. This reduces the risk of the client losing his/her assets or having them stolen. A custodian bank provides an investor a place to store assets with little risk. Custodian banks normally require a fee for this service. See also: Safekeeping.
References in periodicals archive ?
Citibank Kazakhstan JSC will act as a custodian bank and a correspondent bank for cash transactions.
Blom Bank Egypt owns Blom Egypt Securities with a capital of EGP 50m, and offers custodian bank services.
NBAD is the first licensed custodian bank and the only banking institution originating from the UAE that is licensed by the Emirates Securities & Commodities Authority to be a custodian or custody services provider.
HSBC is the only Western custodian bank to have a foothold, and personnel, in each of the main GCC markets.
The ASX now offers a total of 46 ETF and exchange-traded commodities on its market supplied by a range of issuers including specialist ETF Securities, buy-side firms BlackRock, Russell Investments, Vanguard Investments, custodian bank State Street and Perth Mint.
Bank of New York Mellon, the world's largest custodian bank, currently has no plan to list in Shanghai, although it hopes to increase the number of shareholders from Asia including China, sad Chairman Robert Kelly at a press conference yesterday.
The public plan can (1) utilize internal staff, (2) negotiate with its custodian bank to perform this service; (3) hire a third-party claims advisory service; or (4) engage external securities litigation counsel.
The company, which is a custodian bank looking after its clients' financial as set s, moved into Manchester a year ago and has already provided 400 career opportunities for local people.
Morgan Chase and the Bank of New York), the Fixed Income Clearing Corporation, securities dealers, an interdealer broker, a custodian bank, a money market fund, The Bond Market Association, and the Investment Company Institute.
The receipt is the equivalent of shares and represents the underlying security deposited at a custodian bank by its issuer.
Although the bank refused to comment on a pending legal case, it said it was important to note that Julius Bar--which has strong Jewish roots--had acted in this instance as a custodian bank, only performing administration duties.
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.