Clearing, Settlement and Custody

1st Edition

Authors: David Loader David Loader
Paperback ISBN: 9780750654845
eBook ISBN: 9780080490656
Imprint: Butterworth-Heinemann
Published Date: 5th September 2002
Page Count: 256
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Description

'Clearing, Settlement and Custody' focuses on the clearing, settlement and custody functions by analyzing how they work and the interaction between the organizations involved. The author examines the roles of clearing houses, central counterparties, central securities depositories and the custodians, as well as, assessing the impact on the workflow and procedures in the operations function at banks, brokers and institutions. The changes that are taking place in the industry are explored and the impact for operations managers and supervisors assessed.

Clearing, settlement and custody is at the heart of everything that happens in the financial markets. The evolution of clearing and settlement is one that is still happening and as such, it is impacting on the operations function through both new practices but also, increasingly, in terms of regulation, risk and reputation.

In essence the efficient clearing and settlement operation is managing risk, not because it is a direct part of the process but more because it is a bi-product. The routine procedures relate to reconciliation and record keeping. If these are performed efficiently and accurately it will result in accurate records of activity and profit and loss.

The settlement process is a key element in identifying and correcting errors made by dealers and traders. Failure to identify the error or act promptly will result in potentially serious financial loss, as well as worrying audit and the regulators.

In addition to these concerns the financial service sector is also undergoing a massive rationalization of the structure of clearing and settlement and seeking the twin goals of automation and shortening settlement cycles. The challenge for operations managers is considerable: manage costs, eradicate inefficiencies, create an environment to be competitive, and implement the procedure

Key Features

The definitive series of professional references for those finance professionals concerned with "Back office" or operations management unique to this industry.Presents concise references on the essential management functions such as technology, client services, and risk management for financial operations management professionals.A comprehensive resource from a leading financial management consultant for global banks and institutions.

Readership

Operations staff in banks and other financial institutions who have experience in the finance industry; Individuals who seek a career move into the operational side of the business, or those who wish to move into a supervisory/management role with the operations function.

Table of Contents

Preface; The structure of clearing and settlement; Role of the clearing house and central securities depositories; Bond settlement; Equity clearing and settlement; Derivatives clearing and settlement; Custody services; Other clearing and settlement; Operational issues and the future; Appendices.

Details

No. of pages:
256
Language:
English
Copyright:
© Butterworth-Heinemann 2002
Published:
Imprint:
Butterworth-Heinemann
eBook ISBN:
9780080490656
Paperback ISBN:
9780750654845

About the Author

David Loader

David Loader is co-founder of DSC Portfolios Ltd., which specializes in global training and consultancy services for the financial industry. David 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.

Affiliations and Expertise

Director of DSC Portfolio Ltd. and Loader Associates Ltd.

David Loader

David Loader is co-founder of DSC Portfolios Ltd., which specializes in global training and consultancy services for the financial industry. David 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.

Affiliations and Expertise

Director of DSC Portfolio Ltd. and Loader Associates Ltd.