1. 
   Sub-custodian
   Any company/institution providing custody administration services on behalf of other custodians who may not have an operation in the country concerned.
   Found op http://www.encyclo.co.uk/local/20211
   
   
2. 
   subcustodian
   where one custodian (e.g. a global custodian) holds its securities through another custodian (e.g. a local custodian), the latter is known as a sub-custodian....
   Found op http://www.oenb.at/dictionary/termini.jsp?EINTRAG_ID=14887
   
   

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