'

Custodian

An organization, usually a bank or any other approved institutions, that hold the securities and other assets of mutual funds and other institutional investors.

Related Glossary Terms

Close-out-netting

An arrangement to settle all contracted but not yet due obligations to and claims on a counterparty by one single payment, immediately upon the occurrence of one of the defined events of default.

Trade netting

A legally enforceable consolidation and offsetting of individual trades into net amounts of securities and money due between trading partners or among members of a clearing system. A netting of trades which is not legally enforceable is position netting.

Merger

The non-hostile and voluntary union of two companies.

Advertisement

Comments