The securities custody industry

Daniela Russo, Simonetta Rosati, Diana Chan and Florence Fontan

No 68, Occasional Paper Series from European Central Bank

Abstract: Custody is, in essence, a service consisting in holding (and normally administering) securities on behalf of third parties. In step with the growth of sophisticated financial markets, custody has evolved into a complex industry no longer characterised by physical safekeeping but by a range of information and banking services. Given the multi-tier structure of the industry, custody services are provided by a variety of intermediaries. This paper describes the development of the custody industry and the structure of the custody services market. It also discusses the risks involved in custody and the challenges the industry is facing, particularly in the European context. JEL Classification: G15, G21, L22

Keywords: custodian banks; custody industry; global custodians; Securities settlement; systemic risk (search for similar items in EconPapers)
Date: 2007-08
Note: 552524
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (28)

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Persistent link: https://EconPapers.repec.org/RePEc:ecb:ecbops:200768

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