Welcome, finance enthusiasts and curiosity seekers, to the whimsical world of Global Custody! Yes, it sounds like something out of a James Bond film, but fear not, we wonโt require any espionage or exotic car chases (unless youโre into that sort of thing). ๐๐จ
What is Global Custody? ๐คยง
Imagine youโve got a treasure chest full of valuable securities (think stocks, bonds, and maybe some magical beans ๐ฑ). Now, youโre probably thinking, โWhere on earth do I safely stash all this?โ Thatโs where Global Custody comes in โ think of it as hiring a world-class superhero bank to keep your treasure safe across different countries! In essence, Global Custody involves banks safeguarding securities on behalf of clients while offering services like valuation, reporting, trade settlement, registration of ownership, and more.
Superhero Custodians in Action ๐ฆธโโ๏ธยง
When you park your savings with a Global Custodian, you get access to a treasury of services across assorted global markets. Here are some spectacular services they provide:
Settlement of Tradesยง
Like a master chess player moving pieces effortlessly across the board ๐
Valuation and Reportingยง
Keeping you updated with the financial version of magic mirrors ๐ชโจ
Collection of Domestic and Foreign Incomeยง
Swooping in to collect your dividends and interest! ๐ฌ๐ธ
Tax Accountingยง
Helping you navigate the maze of taxes and deductions better than a skilled puzzle solver ๐งฉ
Specialized Nominee Companiesยง
Think secret agents registering ownership to keep everything discrete and efficient! ๐คต๐
Ever wonder what happens in the labyrinth of financial services? The infographic above gives a snapshot of how global custodians keep their clientsโ treasures safe and sound! ๐ก๏ธ