Clearing, Settlement and Custody

by David Loader

Overview

Four new chapters and updates throughout help this 2e of Clearing, Settlement and Custody summarize worldwide changes in the process of concluding a financial transaction. Noted consultant David Loader provides a highly detailed analysis of the central clearing counterparty concept, the drivers behind it, and its effects on operations teams. He also clearly illustrates the life cycle of a series of transactions to broaden the comparison process. Emphasizing changes in the regulatory environment stemming from the 2008 market crash and liquidity crisis, this edition uses new case studies and end-of-chapter quizzes to explore the transaction value chain of trading, clearing, settlement, and custody. Students and professionals in the financial field will benefit from the book's description of the industry and the details of financial innovation and regulatory response, with their many implications. - Supplements theoretical insights about risk with empirical data from current cases - Provides the first algorithmic risk management technique that spans multiple asset classes - End-of-chapter questions reinforce primary and secondary points

Product Details

ISBN-13:	9780080983455
Publisher:	Butterworth-Heinemann
Publication date:	09/27/2013
Sold by:	Barnes & Noble
Format:	eBook
Pages:	240
File size:	3 MB

About the Author

David Loader is the cofounder of DSC Portfolios Ltd., which specializes in global training and consultancy services for the financial industry. He has worked in the debt, equity, and derivatives markets, and his expertise in back-office dynamics is unparalleled. He has written widely on operations management, derivatives, fund administration, and operational risk.

Table of Contents

1 - The structure of clearing and settlement 2 - The role of the clearing house, trade repositories and central securities depositories 3 - Bond Settlement 4 – Equity clearing and settlement 5 – Clearing and Settlement of Derivatives 6 - Custody services 7 - Securities Lending 8 – Settlement of Portfolio Transactions and Subscription/Redemption of Shares and Units in Investment Funds 9 – Risk and Regulation Glossary

What People are Saying About This

From the Publisher

Introduces post-trade infrastructure in a non-technical way and assesses the impact on workflow and procedures at banks, brokers, and institutions

Editorial Reviews

"This primer for those in finance and business explains the processes involved in the conclusion of financial transactions, also known as clearing and settlement processes…This second edition contains four new chapters reflecting global conditions in the world of finance, as well as changes in the regulatory environment that began in response to the 2008 financial market crash. There are also new case studies." —ProtoView.com, January 2014

"David Loader introduces us to the glamour of the back-office. Using clear examples and useful case studies he takes us through the process of clearing and settlement. After reading the book, the reader will have a good understanding of how things actually work, why back-office matters a great deal, and why the recent changes in the regulatory landscape will affect some financial markets in important ways. This is a must-read for beginners and a useful reference." —Cyril Monnet, University of Bern

"David Loader details what happens after a trade has been matched:  Post-trading is getting increasingly complex and important for the functioning of global financial markets.  It is therefore tremendously helpful to get an all-embracing overview of functions, processes, institutions, and regulation." —Torsten Schaper, Deutsche Börse AG

From the Publisher