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A financial organization that performs services (acts as an intermediary) in a market for another organization that does not have access to that market.


A financial organization such as a securities firm or a bank that regularly performs services for another firm that does not have the requisite facilities or the access to perform the services directly. For example, a member of a securities exchange may execute a trade for a nonmember firm.


A correspondent is a financial institution, such as a bank or brokerage firm, that handles transactions on behalf of another financial institution that it can't complete on its own.

For example, if a US bank has a client who needs to make a payment to a supplier located overseas, the US bank would use its relationship with a correspondent bank in the supplier's home country to credit the supplier's bank account with money from its own client's account that had been transferred through an international payment system.

References in periodicals archive ?
These include TV presenter Lorraine Kelly, actress Helena Bonham Carter and Sky News correspondent Alex Crawford, who won acclaim for her reporting from Libya.
China has always been appreciative of Pakistan efforts in War on Terror, he said in reply to a question by a foreign news correspondent in an informal chat here.
Washington, Feb 18(ANI): US Secretary of State Hillary Clinton has turned up the heat on the Egyptian government over the sexual assault on CBS News correspondent Lara Logan in Cairo.
1991 American news correspondent Terry Anderson was freed by Islamic Jihad after 2,454 days in captivity.
Jonathan Baker, BBC deputy foreign editor and Jonathan Marcus, BBC world news correspondent, will also appear.
The writer of the classic Swallows and Amazons was recruited by MI6 when he was a Daily News correspondent in Moscow during the Russian Revolution.
The former BBC chief news correspondent was being honoured alongside Jonathan Porritt, former director of Friends of the Earth and former chairman of the Ecology Party, now the Green Party.
News correspondent Jack Smith died of cancer on April 7 in Marin County, Calif.
Ms Bond said: 'As a news correspondent, it has been essential to maintain an entirely objective and balanced view about the events that have surrounded the Royal Family.
A FORMER Sky News correspondent who resigned after faking a report on the war in Iraq has been found dead at his home,it emerged today.
The former BBC chief news correspondent accept-ed undisclosed damages from the Sun over an article published in October 2001.
He said the advice of his wife, NBC News correspondent Maria Shriver, a member of the Kennedy family and a Democrat, would be especially significant.