Hold in Street Name
Definition - What does Hold in Street Name mean?
Hold in street name is the registration of customer securities in the name of the broker dealer. Most customers register securities in the name of the broker dealer to make the transfer of ownership easier.
Testopedia explains Hold in Street Name
When securities are purchased the name of the new owner must be recorded on the books and records of the issuer and on the security itself. When an investor wishes to sell securities the owner must endorse the securities to make them transferable. If an investor had the securities registered in their own name they would have to personally endorse the certificates and send them to the broker dealer. To make the sale of securities easier most investors hold their securities in the name of the broker dealer. When the investor wishes to sell the securities the broker dealer handles all the required endorsements and credits the customer's account for the proceeds of the sale.