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Custody chain: Difference between revisions
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Amwelladmin (talk | contribs) (Created page with "{{g}}The concatenation of contracts and arrangements whereby one can trace one’s beneficial ownership of one’s security all the way from one’s de...") |
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Like the ultimate nature of money, the custody chain is part of the deep metaphysical lore of the market; part of the founding myth. This dismays practical types who have no love of arid philosophical debates, and the truth is few if any people genuinely understand who actually, legally owns a registered security when it could be so many different people at once, and in peacetime, it really doesn’t matter. In times of war, of course, discovering how a [[custody chain]] actually works can be really rather bracing. | Like the ultimate nature of money, the custody chain is part of the deep metaphysical lore of the market; part of the founding myth. This dismays practical types who have no love of arid philosophical debates, and the truth is few if any people genuinely understand who actually, legally owns a registered security when it could be so many different people at once, and in peacetime, it really doesn’t matter. In times of war, of course, discovering how a [[custody chain]] actually works can be really rather bracing. | ||
{{ | the question of whether one delegates or sub-contracts ones custody function to agents and sub-custodians is one that generates less attention and confusion than, in our opinion, it should. Less confusion, you say? Quite so: given how counter-intuitive it is, people thinking clearly about it ''should'' be confused, but generally tend not to be. They’re simply ''mistaken''. | ||
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*[[Delegation]] | |||