By | 2017-09-13T13:34:24+00:00 13th September 2017|

In the financial world a depository is an institution that holds and facilitates the exchange of securities. Central security depositories allow brokers and other financial companies, such as fund managers, to deposit securities where book entry and other services can be performed, like clearance, settlement and securities borrowing and lending. Asset managers and wealth managers have a statutory duty to safekeeping and limit controlling functions and these can be performed by a depository agency, such as a bank.