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 ?
The move makes the bank the first custodian bank to offer such a service in Indonesia.
We are again honoured to receive this prestigious award for our work with this respected global custodian bank, said AxiomSL CEO Alex Tsigutkin.
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.
Conifer Securities, the hedge fund trade execution arm of fund administration outsourcer The Conifer Group, has appointed research firm Elkins/McSherry, a wholly-owned subsidiary of global custodian bank State Street, to provide trade cost analysis for its clients.
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.
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.
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.
If you are a beneficial owner of shares of the Company's Class A common stock whose shares are registered in the name of a broker, custodian bank, or other nominee and wish to participate in the rights offering, you must instruct your broker, custodian bank or other nominee to exercise your rights and deliver all documents and payment on your behalf.
The re-booking and re-transfer is free of costs and expenses for those DBAG shareholders who hold DBAG shares in collective safe custody with a custodian bank provided that the custodian bank itself holds these shares in custody in a securities account at Clearstream.
The new clients are Bank fur Arbeit und Wirtschaft AG in Austria (BAWAG) and two unnamed clients: a custodian bank in the United States and a Swedish financial institution.
Starting from 1 January 2012, Swissquote will also serve as a custodian bank for the banking customers of the insurer, with 20,000 of its accounts, equal to CHF450m (USD536m/EUR371m) worth of assets under custody, to be shifted to Swissquote.