These transactions signify securities that are not represented by certificates of ownership, but are simply recorded on customers' accounts. This eliminates considerable paperwork for brokers and safe keeping concerns for investors.
Securities that are kept in computerized record form rather than paper certificate form.
Securities that are not represented by physical share certificates. Purchases and sales of securities are recorded in a securities account that an investor maintained with The Central Depository (Pte) Limited (CDP). CDP provides depository, clearing and settlement and computerised book-entry services for securities traded on Singapore Exchange Securities Trading Limited (formerly known as Stock Exchange of Singapore).
Securities that are not represented by a certificate. Purchases and sales of some municipal bones, for instance, are merely recorded on customers' accounts; no certificates change hands.
The Treasury and federal agencies are moving to a book-entry system in which securities are not represented by engraved pieces of paper but are maintained in computerized records at the Fed in the names of member banks, which in turn keep 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, engraved securities do exist somewhere in many cases. These securities do not move from holder to holder but are usually kept in a central clearinghouse or by another agent.
Securities that are not represented by a paper certificate, but are maintained as computerized records at a Federal Reserve bank or other clearing center in the name of the member depository institution. The member depository institution, in turn, keeps records of the securities it owns and those being held for its customers.
Securities whose ownership are evidenced by an ent... Add a comment
Securities that are recorded in electronic records, called book entries, rather than as paper certificates. Ownership of U.S. government book-entry securities is transferred over Fedwire.