Safekeeping, usually by banks, of securities held on behalf of clients. It can include full portfolio services, with valuation and reporting, settlement of trades, registration of ownership, use of specialized nominee companies, collection of domestic and foreign income, and tax accounting. These services span markets and securities in a number of countries.

• purchase fund
• purchasing power
• purchasing power parity
• pure endowment assurance
• pure play
• pure risk
• put-call parity
• put-call ratio
• put-of-more option
• put option
• puttable bonds
• put-through
• pya
• PYB
• pyramiding
• qindar
• Q ratio
• qualified acceptance
• qualified audit report
• qualified stock option
• qualifying distribution
• qualifying loss
• quality
• quality spread
• quango