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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.
The custodian is often the minor's parent. In the U.S., this type of account is often structured as a Coverdell ESA , allowing for tax-advantaged treatment of educational expenses. Another form is a trust account owned by an individual or institution, managed by a named party for purposes of rapid distribution of funds in that account.
A securities account, sometimes known as a brokerage account, is an account which holds financial assets such as securities on behalf of an investor with a bank, broker or custodian. Investors and traders typically have a securities account with the broker or bank they use to buy and sell securities.
A central securities depository (CSD) is a specialized financial market infrastructure organization holding securities like shares, either in certificated or uncertificated (dematerialized) form, allowing ownership to be easily transferred through a book entry rather than by a transfer of physical certificates.
Fraud: The Securities and Exchange Commission issued an investor alert about the risks of self-directed IRAs, including fraud. The SEC says to be aware of fake custodians offering to take your ...
Electronic ticker monitor display, showing the bid and offer status of securities. Securities market participants in the United States include corporations and governments issuing securities, persons and corporations buying and selling a security, the broker-dealers and exchanges which facilitate such trading, banks which safe keep assets, and regulators who monitor the markets' activities.
Since 1999 it has been a subsidiary of the Depository Trust & Clearing Corporation, a securities holding company. DTC manages book-entry securities entitlement transfers for brokerage houses and maintains custody of global (jumbo) stock certificates and other stock certificates through its affiliated partnership nominee, Cede and Company.
Once the necessary paperwork is submitted and verified, the firm usually establishes a new account for the beneficiary, transferring your securities and funds into it. What are the tax ...