depository

Institution responsible for safekeeping securities and ensuring that the decisions made by fund managers are lawful. A depository can delegate some of its functions, notably the safekeeping function, on a contractual basis to another institution authorised to operate as a custodian. However, it cannot delegate the task of ensuring the lawfulness of decision-making by the fund management company. NYSE Euronext Glossary

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depository de‧pos‧i‧to‧ry [dɪˈpɒztri ǁ dɪˈpɑːztɔːri] noun depositories _PLURALFORM [countable]

1. ORGANIZATIONS FINANCE an organization where the formal documents showing who owns shares, bonds, etc can be kept safely:

• The bank will serve as a depository for the shares during the takeover battle

2. a place where goods can be kept safely:

• the Dallas book depository

ˈnight deˌpository BANKING

a special hole in the outside wall of a bank into which a customer can put money or documents when the bank is closed; = night safe Bre

3. LAW statements and evidence prepared for use in a court case:

• The case depository — nearly 20,000 pages of evidence — was to be stored at Mr Petrone's law offices.

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   A storage facility for securities registration and ownership documents.

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depository UK US (also depositary) /dɪˈpɒzɪt^əri/ US  /-ˈpɑːzətɔːr-/ noun [C]

► a place where money or official documents can be stored safely: »

The documents are currently in a depository in Minnesota.

► COMMERCE a place where goods can be safely stored to be collected later: »

Trucks unloaded cargo at the depository's rear loading docks.

→ See also NIGHT DEPOSITORY(Cf. ↑night depository)