Custody refers to the holding and safeguarding of assets by a financial institution or other organization. In the context of the financial industry, custody refers to the responsibilities of a custodian, which is a financial institution or other organization that is responsible for holding and safeguarding assets on behalf of its clients.
Custodians play a critical role in the financial industry, as they help to ensure the security and integrity of assets and facilitate the smooth functioning of financial markets. Custodians are typically regulated by government agencies and are required to follow strict rules and procedures to protect the assets that they hold.
There are many different types of assets that can be held in custody, including cash, securities, commodities, and other financial instruments. Custody services are used by a variety of clients, including individuals, businesses, and institutional investors, and they can help to ensure that assets are safe and secure while also providing a range of other services, such as the settlement of trades and the provision of reports and other information.
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