Book-entry securities

Securities which are not represented by paper certificates but are maintained in computerized records at the Fed in the names of member banks, which in turn keep computer records of the securities they own as well as those they are holding for customers. In the case of other securities where a book-entry has developed, certificates reside in a central clearinghouse or are held by another agent. These securities do not move from holder to holder.

Book-Entry Security

A security where the certificate is not actually given to the holder. Instead, the holder is given a receipt and the information is held electronically. Book-entry securities have become more common as computers become more sophisticated and exchanges increasingly decide to close their trading floors. Book-entry securities are settled by the DTCC.

单词	book-entry securities
释义	Book-entry securities Book-entry securities Securities which are not represented by paper certificates but are maintained in computerized records at the Fed in the names of member banks, which in turn keep computer records of the securities they own as well as those they are holding for customers. In the case of other securities where a book-entry has developed, certificates reside in a central clearinghouse or are held by another agent. These securities do not move from holder to holder. Book-Entry Security A security where the certificate is not actually given to the holder. Instead, the holder is given a receipt and the information is held electronically. Book-entry securities have become more common as computers become more sophisticated and exchanges increasingly decide to close their trading floors. Book-entry securities are settled by the DTCC.
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