Cede & Co.
Pronunciation: seed and koh
The nominee entity of the Depository Trust Company (DTC) that appears as the registered holder of record for virtually all DTC-eligible securities held in book-entry form.
Full Definition
Cede & Co. is the nominee name under which the Depository Trust Company (DTC) holds securities on behalf of its participants (broker-dealers, banks, and other financial institutions). Because DTC immobilises securities and holds them through Cede & Co., the name 'Cede & Co.' appears as the registered owner on the transfer agent's books for the vast majority of publicly traded U.S. securities. The actual beneficial owners hold their interests through their brokers and banks, not directly. Editors must reproduce the name exactly—'Cede & Co.'—with the ampersand and the period after 'Co', as it is a registered legal entity name.
Usage
Usage note: Always reproduce exactly as 'Cede & Co.' with the ampersand (not 'and') and the abbreviation period. Do not italicise. Typically appears in conjunction with 'as nominee for DTC'.
In Context
- "As of the record date, Cede & Co., as nominee for DTC, held 98.3% of the outstanding common shares on the company's transfer books." — Proxy statement
- "Physical delivery of the global note will be made to Cede & Co. on the closing date." — Indenture / bond offering memorandum