A security whose owner is not registered on the books of the issuer. Exchange Handbook Glossary
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bearer security UK US noun [C] (plural bearer securities) BANKING, FINANCE
► a bond or share that is considered to be owned by the person who has it in their possession, rather than by a named person: »
Bonds may be registered or they may be issued in the form of bearer securities.
Financial and business terms. 2012.