A protected condition maintained as a service by a brokerage firm for its customers' fully paid securities registered in the customers' own names. The practice entails use of vault space to store those certificates until they are withdrawn or sold.
An arrangement where a broker-dealer takes custody of client assets to protect them from theft or other possible problems.
A service to customers rendered by banks for a fee whereby securities and valuables of all types and descriptions are held in the bank's vaults for protection.
The storage and protection of customers' securities, typically held in a vault, provided as a service by a bank or institution acting as agent for the customer.