Custody is the Rule: NSCC Building Better Alternative Investments Processing Automation

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Alternative investments and securities custody services have always been rather technology resistant. The former are notoriously difficult to standardize, owing to widely divergent products, variation of purpose and lack of mandated clearing. Custody─in particular its aspects of control and establishment of ownership, among the other responsibilities of holding and administration─draws originally from the physical provision of a "safe place" for paper securities contracts, and even in the age