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The securities custody industry

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Author Info

  • Diana Chan
  • Florence Fontan
  • Simonetta Rosati
  • Daniela Russo
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    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.

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    File URL: http://www.ecb.europa.eu/pub/pdf/scpops/ecbocp68.pdf
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    Bibliographic Info

    Paper provided by European Central Bank in its series Occasional Paper Series with number 68.

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    Length: 62 pages
    Date of creation: Aug 2007
    Date of revision:
    Handle: RePEc:ecb:ecbops:20070068

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    Related research

    Keywords: Custody industry; securities settlement; systemic risk; custodian banks; global custodians.;

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