Glossary of Municipal Securities Terms

NOMINEE

An entity established by a bank, securities firm or other corporation (such as a depository) to be used as the holder of record forĀ registered securities owned by the bank, securities firm or corporation. Securities are registered in the name of a nominee to avoid the difficulties of registering andĀ transferring securities in a corporate name. This form of registration is satisfactory for purposes of delivery on inter-dealer transactions. Compare: STREET NAME.

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