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 Terms

Opening Price

The rate at which the first transaction in a security is struck after the opening of the market.

Covered call option writing

A strategy in which one sells call options while simultaneously owning an equivalent position in the underlying security.

Interest rate futures

Financial futures that are considered to be primarily sensitive to interest rate movements.