Custodial & Trust Services Industry Overview

Companies that manage assets such as stocks, bonds, and other securities; mutual funds; pension funds; and real estate on behalf of institutional and individual clients.

Full Custodial & Trust Services Industry Description

Consolidation

Expansion of Electronic Trading

To broaden access to capital, investment banks have been merging with other types of financial institutions (for example, commercial banks, brokerages, insurance companies, finance companies) and with international banks. M&As were propelled in part by the deregulation of the financial services industry. In recent years, foreign investment banks have established a firm presence in the US by acquiring US firms.

Securities trading over electronic networks has increased rapidly in the past decade and in some markets has replaced "floor" brokers. In many cases, orders are still executed by individuals dealing with other individuals, but in some systems orders are executed automatically by computer. The NASDAQ is an electronic stock trading system where orders are executed by brokers. A number of electronic communication networks (ECNs) have been formed by brokers or large customers to trade a variety of securities. In 2005, about 11 percent of trading volume on the NYSE was done electronically.

Full Custodial & Trust Services Industry Trends

• Atlantic Trust Group, Inc.
• Northern Trust Corporation
• Custodial Trust Company

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Hoover's has developed its own industry classifications to better serve its customers. These classifications are mapped to the North American Industry Classification System (NAICS) and the older U.S. Standard Industrial Classification (SIC) system. The Custodial & Trust Services maps to a number of NAICS codes including:

Full Custodial & Trust Services Industry Codes

• America's Community Bankers
  
• American Bankers Association
  
• ATM Industry Association
  

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