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When held in street name, a brokerage may not even buy the shares that a customer purchases in the market. Instead, it could allocate them to the investor from its preexisting inventory to make the trade quick and straightforward.
Street name securities can be used by investors as collateral for a loan or for most other types of credit. And broker-dealers cannot borrow or loan to short sellers the securities of clients with no margin loans without their prior consent.
In street name basically means a security is registered in the name of the broker rather than the individual investor. If you were to buy a stock with a broker, the certificate would show its name rather than yours, unless you specifically request otherwise.
A street name is an identifying name given to a street or road. In toponymic terminology, names of streets and roads are referred to as odonyms or hodonyms (from Ancient Greek ὁδός hods 'road', and ὄνυμα numa 'name', i.e., the Doric and Aeolic form of ὄνομα noma 'name').[1] The street name usually forms part of the address (though addresses in some parts of the world, notably most of Japan, make no reference to street names). Buildings are often given numbers along the street to further help identify them. Odonymy is the study of road names.
Names are often given in a two-part form: an individual name known as the specific, and an indicator of the type of street, known as the generic. Examples are "Main Road", "Fleet Street" and "Park Avenue". The type of street stated, however, can sometimes be misleading: a street named "Park Avenue" need not have the characteristics of an avenue in the generic sense. Some street names have only one element, such as "The Beeches" or "Boulevard". In the 19th and early 20th centuries, it was common when writing a two-part street name (especially in Britain) to link the two parts with a hyphen and not capitalise the generic (e.g. Broad-street, London-road). This practice has now died out.
A street name can also include a direction (the cardinal points east, west, north, south, or the quadrants NW, NE, SW, SE) especially in cities with a grid-numbering system. Examples include "E Roosevelt Boulevard" and "14th Street NW". These directions are often (though not always) used to differentiate two sections of a street. Other qualifiers may be used for that purpose as well. Examples: upper/lower, old/new, or adding "extension".
"Main Street" and "High Street" are common names for the major street in the middle of a shopping area in the United States and the United Kingdom, respectively. The most common street name in the US is "2nd" or "Second".[2]
In the United States, most streets are named after numbers, landscapes, trees (a combination of trees and landscapes such as "Oakhill" is used often in residential areas), or the surname of an important individual (in some instances, it is just a commonly held surname such as Smith).
Some streets, such as Elm Street in East Machias, Maine, have been renamed due to features changing. Elm Street's new name, Jacksonville Road, was chosen because it leads to the village of Jacksonville. Its former name was chosen because of elm trees; it was renamed when all of the trees along the street succumbed to Dutch elm disease.
The Shambles, derived from the Anglo-Saxon term fleshammels ("meat shelves" in butchers' stalls), is a historical street name which still exists in various cities and towns around England. The best-known example is in York.[4]
In the past, many streets were named for the type of commerce or industry found there. This rarely happens in modern times, but many such older names are still common. Examples are London's Haymarket; Barcelona's Carrer de Moles (Millstone Street), where the stonecutters used to have their shops; and Cannery Row in Monterey, California.
Barcelona's La Rambla is officially a series of streets. The Rambla de Canaletes is named after a fountain that still stands, but the Rambla dels Estudis is named after the Estudis Generals, a university building demolished in 1843, and the Rambla de Sant Josep, the Rambla dels Caputxins, and the Rambla de Santa Monica are each named after former convents. Only the convent of Santa Monica survives as a building, and it has been converted to a museum.
Sometimes a street is named after a landmark that was destroyed to build that very street. For example, New York's Canal Street takes its name from a canal that was filled in to build it. New Orleans' Canal Street was named for the canal that was to be built in its right-of-way.
While names such as Long Road or Nine Mile Ride have an obvious meaning, some road names' etymologies are less clear. The various Stone Streets, for example, were named at a time when the art of building paved (stone) Roman roads had been lost. The main road through Old Windsor, UK, is called "Straight Road", and it is straight where it carries that name. Many streets with regular nouns rather than proper nouns, are somehow related to that noun. For example, Station Street or Station Road, do connect to a railway station, and many "Railway Streets" or similar do end at, cross or parallel a railway.
As a road approaches its stated destination, its name may be changed. Hartford Avenue in Wethersfield, Connecticut, becomes Wethersfield Avenue in Hartford, Connecticut, for example. A road can switch names multiple times as local opinion changes regarding its destination: for example, the road between Oxford and Banbury changes name five times from the Banbury Road to the Oxford Road and back again as it passes through villages.
Some streets are named after famous or distinguished individuals, sometimes people directly associated with the street, usually after their deaths. Bucharest's Şoseaua Kiseleff was named after the Russian reformer Pavel Kiselyov who had the road built while Russian troops were occupying the city in the 1830s; its Strada Dr. Iuliu Barasch is named after a locally famous physician whose clinic was located there. Many streets named after saints are named because they lead to, or are adjacent to, churches dedicated to them.
Naming a street after oneself as a bid for immortality has a long pedigree: Jermyn Street in London was named by Henry Jermyn, 1st Earl of St Albans, who developed the St. James's area for Charles II of England. Perhaps to dissuade such posterity-seeking, many jurisdictions only allow naming for persons after their death, occasionally with a waiting period of ten years or more. A dozen streets in San Francisco's North Beach neighborhood were renamed in 1988 after deceased local writers; in 1994, the city broke with tradition, honoring Lawrence Ferlinghetti by renaming an alley after the poet within his own lifetime.[6]
Naming a street for a person is very common in many countries, often in the honorand's birthplace. However, it is also the most controversial type of naming, especially in cases of renaming. Two main reasons streets are renamed are: (1) to commemorate a person who lived or worked in that area (for example, Avenue Victor Hugo in Paris, where he resided); or (2) to associate a prominent street in a city after an admired major historical figure even with no specific connection to the locale (for example, Ren Lvesque Boulevard in Montreal, formerly Dorchester Boulevard). Similarly, hundreds of roads in the United States were named with variations of Martin Luther King Jr., in the years after his 1968 assassination.
Conversely, renaming can be a way to eliminate a name that proves too controversial. For example, Hamburg Avenue in Brooklyn, New York became Wilson Avenue after the United States entered World War I against Germany (see below). In Riverside, California, a short, one-way street named Wong Way was renamed to a more respectful Wong Street, as well as spelled out in Chinese characters to honor the historical Chinatown that once occupied the area.[7]
In a case of a street named after a living person becoming controversial, Lech Wałęsa Street in San Francisco was renamed to Dr. Tom Waddell Place in 2014 after Wałęsa made a public remark against gay people holding major public office.[8]
In many cities laid out on a grid plan, the streets are named to indicate their location on a Cartesian coordinate plane. For example, the Commissioners' Plan of 1811 for Manhattan provided for numbered streets running parallel to the minor axis of the island and numbered and lettered avenues running parallel to the long axis of the island, although many of the avenues have since been assigned names for at least part of their courses.
In many cases, the block numbers correspond to the numbered cross streets; for instance, an address of 1600 may be near 16th Street or 16th Avenue. In a city with both lettered and numbered streets, such as Washington, D.C., the 400 block may be between 4th and 5th streets or between D and E streets, depending on the direction in which the street in question runs. However, addresses in Manhattan have no obvious relationship to cross streets or avenues, although various tables and formulas are often found on maps and travel guides to assist in finding addresses.
In languages that have grammatical cases, the specific part of a road name is typically in the possessive or genitive case, meaning "the road of [Name]". Where the specific is an adjective (as in "High Street"), however, it is inflected to match the generic.
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