Custodian: Difference between revisions
imported>Doug Williamson (Classify page.) |
imported>Doug Williamson (Update first definition - source - Association of Corporate Treasurers - email from Naresh Aggarwal 16 Feb 2022.) |
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A bank, financial institution or other entity responsible for maintaining accurate and up-to-date registration details of the beneficial owners of those securities for which it has custodial responsibility. | |||
Custodians are also responsible for the administration of the assets they hold (including trade settlement), the collection of interest or dividends, exercising the voting rights attached to certain types of securities if so required, as well as being able to provide other services such as the production of portfolio valuations and performance measurement. | |||
As a result of dematerialisation, the need to hold and safe keep securities in physical form has been largely removed in many of the world’s major securities markets. | |||
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== See also == | == See also == | ||
* [[Agent bank]] | * [[Agent bank]] | ||
* [[Bank]] | |||
* [[Beneficial owner]] | |||
* [[Custody]] | * [[Custody]] | ||
* [[Custody risk]] | * [[Custody risk]] | ||
* [[Dematerialisation]] | |||
* [[Dividend]] | |||
* [[Global custodian]] | * [[Global custodian]] | ||
* [[Interest]] | |||
* [[Local custodian]] | |||
* [[Security]] | |||
* [[Securities settlement system]] | * [[Securities settlement system]] | ||
* [[Sub-custodian]] | * [[Sub-custodian]] | ||
Revision as of 11:41, 16 February 2022
1.
A bank, financial institution or other entity responsible for maintaining accurate and up-to-date registration details of the beneficial owners of those securities for which it has custodial responsibility.
Custodians are also responsible for the administration of the assets they hold (including trade settlement), the collection of interest or dividends, exercising the voting rights attached to certain types of securities if so required, as well as being able to provide other services such as the production of portfolio valuations and performance measurement.
As a result of dematerialisation, the need to hold and safe keep securities in physical form has been largely removed in many of the world’s major securities markets.
2.
Any organisation or individual that holds assets on behalf of another organisation or individual.
