A custodian bank, or just a
Using the US definition, a person who has the effect of a street name and who is not a member of an exchange, holds a securities through a registration chain involving one or more guards. This is due to the perceived impracticality of registering securities traded on behalf of each individual holder; on the other hand, the custodian or guard is listed as the holder and holds the securities in the fiduciary arrangement for the ultimate security holder. However, the highest security holders are still the rightful owners of securities. They are not the only beneficiaries of the custodian as trustee. The custodian is not the owner of the securities owner, but only part of the registration chain that connects the owner with the securities. Global securities security practices vary widely with markets such as Britain, Australia and South Africa pushing for designated securities accounts to enable identification of shareholders by companies.
The definition of "shareholder" is generally supported by corporate law rather than securities law. One of the guard roles (which may or may not be enforced by securities regulations) is to facilitate the exercise of shareholding rights, for example and to process dividends and other payments, corporate actions, stock split or reverse stock split, the ability to vote at company annual general meetings (GMS), information and reports sent from the company and so on. The extent to which the services are offered is a function of the client agreement along with relevant market rules, rules and laws.
Custodian banks are often referred to as global guardians if they are safe to store assets to their clients in various jurisdictions around the world, using their own local branch or other local custodian bank ("sub-guard" or "bank agent" ) with which they contract on their "global network" in each market to hold accounts for their respective clients. Assets held in this way are typically owned by larger institutional companies with large amounts of investment such as banks, insurance companies, mutual funds, hedge funds and pension funds.
By 2015, the world's 4 largest custodian banks are:
- Bank of New York Mellon
- JPMorgan Chase
- State Street Bank and Trust Company
- Citigroup
Video Custodian bank
Storage Instruments
In respect of American Depositary Receipts (ADRs), a local custodian bank (also known as a sub-custodian or bank agent) is a bank in a country outside the United States that holds the appropriate number of shares. stock trading in the home stock market is represented by ADR trading in the United States, with each representing several multiples of the underlying foreign shares. These multiples allow ADR to have a conventional price per share for the US market (usually between $ 20 and $ 50 per share) even if unconventional foreign share prices when converted to US dollars directly. This bank acts as a custodian bank for a company issuing ADRs in the US exchange. Maps Custodian bank
List of Custodian Bank
The following companies offer custodian bank services:
- Banco de Oro Unibank
- Bank of America
- Bank of China (Hong Kong) Limited
- Bank of Ireland Securities Services
- Bank of New York Mellon
- Barclays
- BBVA Compass
- BNP Paribas Securities Services
- Brown Brothers Harriman
- CACEIS
- CIBC Mellon
- Citigroup
- Clearstream
- Comerica Bank
- Credit Suisse
- Deutsche Bank
- Estrategia Investimentos
- E.SUN Commercial Bank
- Euroclear
- Third Fifth Bank
- Goldman Sachs
- HDFC Bank
- Huntington National Bank
- HSBC
- ICBC
- ICICI Bank
- Japan Trustee Services Bank
- JPMorgan Chase
- Kasbank N.V.
- KeyBank
- LBBW
- Maybank
- Mega International Commercial Bank
- Mitsubishi UFJ Trust and Banking Corporation
- Morgan Stanley Smith Barney
- NAB
- National Bank of Abu Dhabi
- North Belief
- PT. Bank Central Asia, Tbk.
- Qatar National Bank
- RBC Investor Services
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- Standard Bank
- Standard Chartered Bank
- State Bank of India
- State Street Bank & amp; Trust me
- The Master Trust Bank of Japan
- Trust & amp; Bank Care Services
- Mauritius Commercial Bank
- US. Bank
- UBS
- UniCredit
- Union Bank N.A.
- Vontobel
- Wells Fargo Bank
List of Custodian & Directive IRAs Self-Directed Administrator
- Benefit Services of Accuplan
- Advanta IRA
- The American Estate & amp; Trust me
- American IRA
- Bank of Utah
- Cama Package
- The Central Bank of Utah
- National Bank Community
- Entrust Group
- Trusteeship of Corporate Equity
- First Midwest Bank
- GoldStar Trust Company
- Horizon Trust Company
- IRA Services Trust Company
- IRA Express
- IRA Innovation
- IRA Resources
- IRA Service Trust
- The Royal Trust Company
- The Liberty Trust Company
- Madison Trust Company
- Mainstar Trust
- MidAtlantic IRA
- Midland IRA
- Millennium Trust Company
- West Mountain IRA
- Nevada Trust Company
- Pensco Trust Company
- New Directions IRA
- Next Generation Services
- NuView Trust Company
- PENSCO Trust Company
- Polycomp Administration Services
- Preferred Trust Company
- Premier Trust
- Provident Trust Group
- IRA Search
- The Real IRA Alternative Trust
- Self-Regulated IRA Service
- Self Disected Retirement Plans LLC
- International Retirement International
- Custom IRA Service
- Company Security Trust
- Top Trust Companies
- Sunwest Trust Company
- uDirect IRA
- Vantage IRA
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Fund Mortgage
A Custodian Fund typically refers to a custodian bank or trust company (a special type of a regulated financial institution such as a "bank"), or a similar financial institution that is responsible for holding and maintaining the securities owned by mutual funds. A mutual fund recipient may also act as one or more service agents for mutual funds such as a fund accountant, administrator and/or transfer agent maintaining shareholder records and channeling periodic dividends or capital gains, if any, distributed by such funds. Most funds use third party custodians as required by SEC regulations to avoid the elaborate rules and requirements of custody .
However, a mutual fund retirement account (IRA, SEP etc.), refers to the plan administrator and record holder as mentioned above, which may not have to be the same agency that provides detention services to the entire fund investment.
See also
- Street name effect
- Securities Storage Center
- Escrow
- Custodian account
- Securities market participants (United States)
References
Source of the article : Wikipedia
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