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A custodian bank, or simply custodian, is a specialized financial institution responsible for providing securities services. It provides post-trade services and solutions for asset owners (e.g. sovereign wealth funds , central banks , insurance companies ), asset managers , banks and broker-dealers .
State Street Bank and Trust Company (SSBT), commonly known as State Street Global Services, is a subsidiary of State Street Corporation organized as a trust company based in Massachusetts. The company is the largest custodian bank in the world and specializes in providing institutional investors , such as mutual funds , with clearing ...
State Street Bank and Trust Company, also known as State Street Global Services, is the securities services division of State Street that provides asset owners and managers with securities services (e.g. custody, corporate actions), fund accounting (pricing and valuation), and administration (financial reporting, tax, compliance, and legal) services.
A custodial account is a financial account (such as a bank account, a trust fund or a brokerage account) set up for the benefit of a beneficiary, and administered by a responsible person, known as a legal guardian or custodian, who has a fiduciary obligation to the beneficiary.
It is the world's largest custodian bank and securities services company; [3] [4] [5] as of September 2024, it has $2.1 trillion in assets under management and $52.1 trillion in assets under custody and administration, making it the first bank to surpass $50 trillion. [6]
Custodian of the Holy Land (i.e., Custos), an appointed ecclesiastical office in the Franciscan Order; Custodian of the Two Holy Mosques, the official title of the head of Saudi Arabia, where the two holiest mosques of Islam are located; Hashemite custodianship of Jerusalem holy sites, a role claimed by Jordan in administering Jerusalem's holy ...
Because the shares are held in the name of the stockbroker or bank or custodian the name of the beneficial owner does not appear on the share register. This means that dividends, shareholder perks, company reports, details of corporate actions and other communications are sent to the stockbroker rather than the beneficial owner. The extent and ...
Axos Financial, Inc., is a bank holding company based in Las Vegas, Nevada.The company operates Axos Clearing LLC, a financial custodian; Axos Bank, a direct bank; registered investment adviser services via Axos Advisor Services; and operates an electronic trading platform via Axos Invest, Inc.