Keeping up with custody
Custodians are diversifying product offerings and seeking new target market segments in a bid to keep ahead of the game, says Ajit Khare, group product manager, securities services at Standard Chartered Bank.
Custodians, the traditional back office for institutional investors, have over the past years undergone dramatic changes in the way they conduct business.
In the days of physical securities, a custodian had huge vaults and used massive manpower for safekeeping and settlement of transactions in physical securities. For both local and international institutional investors doing large numbers of transactions, appointing a custodian made economic sense as compared to the costs of doing the same in-house. For international investors, the custodian provided...
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