Definition: A specialized financial institution that holds and safeguards a firm’s financial assets, such as stocks, bonds, or cash. In reconciliation, the custodian’s statement is typically treated as the external source of truth against which a firm’s internal records are compared.
Example: An asset manager uses a global custodian to hold the physical and electronic assets of pension fund clients. Every morning, the manager’s operations team reconciles its internal portfolio records against the data feed provided by the custodian to ensure holdings are in sync.
Explore the IVP Reconciliation Solution
The IVP Reconciliation Solution offers native, secure connectivity to all major global custodians and prime brokers. Our integrated service model removes the technical burden of data ingestion, as IVP’s team manages the normalization of diverse file formats (like SWIFT MT940) and acts as the primary point of contact for resolving statement delays or connectivity issues, ensuring the reconciliation cycle is never disrupted.
