abhishreshthaa
New member
WHO IS A CUSTODIAN
:SugarwareZ-193:
- Custodian is often an independent organisation which takes custody of securities and ensures safekeeping the documentary evidence.
- The title to the custodian’s property remains vested with the original holder.
- Custodian is a clearing member but not a trading member.
- He settles trades assigned to him by trading members.
- He is required to confirm whether he is going to settle a particular trade or not.
- If it is confirmed, the NSCCL assigns that obligation to that custodian and the custodian is required to settle it on the settlement day.
- A custodian's responsibilities include receipt and delivery of securities, collecting income, safekeeping of units etc.
- Custodian charges range between 0.15 % -0.20 %of the net value of the holding.
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