Nominee

What is a 'Nominee'

A nominee is a person or firm into whose name securities or other properties are transferred in order to facilitate transactions, while leaving the customer as the actual owner.

BREAKING DOWN 'Nominee'

A "nominee account" is a type of account in which a stockbroker holds shares belonging to clients, making buying and selling those shares easier. In such an arrangement shares are said to be held in street name.

RELATED TERMS
  1. Street Name

    When securities are held in the name of a broker or other nominee, ...
  2. Nominee Interest

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  3. Nominee Distribution

    Interest income reported on IRS Form 1099-INT that a taxpayer ...
  4. Nominee Dividend

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  5. In Street Name

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  6. Stock Record

    An electronic system that helps brokerage firms keep track of ...
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RELATED FAQS
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