CUSTODIAN

abhishreshthaa

New member
WHO IS A CUSTODIAN

  • 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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