Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/154521
Authors: 
Chan, Diana
Fontan, Florence
Rosati, Simonetta
Russo, Daniela
Year of Publication: 
2007
Series/Report no.: 
ECB Occasional Paper 68
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.
Subjects: 
Custody industry
securities settlement
systemic risk
custodian banks
global custodians.
JEL: 
G15
G21
L22
Document Type: 
Research Report

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