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 ?
The developers then suggested other alternative road names - which the council have deemed appropriate- and they are Chaffinch, Dove and Goldcrest.
If you are looking for a bargain, a road name ending in Court might be your best bet, with an average price of PS184,300, while a home in a Close has an average price of PS222,215.
Sir Terry visited the town to unveil the road names and was greeted by hundreds of Discworld fans, many in costume, at housebuilder George Wimpey's offices.
But Cockshut Road resident Rachel Lewis said: "I'd hate my road name to change.
The similarity of the two road names received attention during the recent accident.
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He will urge town halls to ditch "identikit" road names, such as Sycamore Close, in favour of local heroes.
Features offered on the maps include shops, businesses, road names amongst others.
We could also put in the famous yellow submarine the end of Chavasse Park and road names like Penny Lane, Abbey Road and Strawberry Fields.
Lack of road names, half disappeared road names, lack of directions (sometimes too many signs) adds to the list of problems.
The MapWay service also gives information that is relevant to the user when he is on the street as it displays shops and businesses as well as road names.
THE Lions team of 1997 have proved they will always be streets ahead of their rivals after being immortalised as road names.