Securities Held for Safekeeping, definition
Securities Held for Safekeeping, means those securities held by a Dealer Member for a client pursuant to a written safekeeping agreement. These securities must be free from any encumbrance, be kept apart from all other securities and be identified as being held in safekeeping for a client in a Dealer Member’s security position record, customer’s ledger and statement of account. Securities so held can only be released pursuant to an instruction from the client and not solely because the client has become indebted to the Dealer Member;
Securities Held for Safekeeping, means securities held by a futures commission merchant for a customer under a written safekeeping agreement.