Global Securities Services Suite

This program offers a complete overview of processing securities in the global markets. The execution and settlement of equity, debt and currency products are examined on days one and two. Custody, including corporate actions and other custodian services are examined on day three. Students learn the systems used to transmit trade instructions, the DR marketplace, securities lending and repo transactions and trends in exchange mergers and CSD links.

25-Jun-2012 -- 27-Jun-2012New YorkUSD$3375
NY Institute of Finance - Midtown9:00am - 4:30pm Instructional Method:
Group-Live
Instructor(s): [ David Weiss; ] Mon Tue Wed Level: Basic

CPE CREDITS
21.5
Settlement, corporate action and custody staff; IT, program and product developers; client service representatives.
No advance preparation required.
Students will be able to:
  • Describe the advantages and disadvantages of execution methods and their effect on settlement
  • Compare the roles played by the VMU, CCP, ICSD, CSD and custodian banks
  • Evaluate the operational and settlement risks in processing global transactions
  • Identify markets with special regulations, settlement requirements and fail penalties
THE EXECUTION OF GLOBAL SECURITIES
Overview of Global Marketplace
  • Developing a trade flow of an order executed by an institution, a full service broker and an introducing broker
  • Describing the functions of the market participants – issuers, investors, brokers, agents
  • Comparing the methods of execution used in the global marketplace

Execution in the global marketplace

  • Evaluating the advantages and disadvantages of the electronic execution system
  • Evaluating the advantages and disadvantages of the market-maker system
  • Identifying the methods used in the equity, debt and F/X markets
  • Workshop: Executing an order in a Japanese security

SETTLEMENT OF GLOBAL SECURITIES
The Clearance Process
  • Creating the Trade confirmation, trade and settlement instruction
  • Examining the principal methods of the clearance process
  • Contrasting Equity, Debt and F/X clearance

The Settlement Process

  • Identifying the methods and functions of settlement
  • Evaluating settlement risk factors
  • Discussing country practices in fail penalties and trade close-outs or buy-ins.
  • Describing the impact of a system in transition
  • Workshop: Developing the steps in monitoring and controlling settlement risk

CUSTODY OF GLOBAL SECURITIES
Custody Services
  • Monitoring the custody network
  • Discussing core services including trade processing, cash management and asset servicing
  • Exploring value added services including tax services, proxy voting and securities lending

Asset Servicing

  • Comparing country practices in corporate action notification and processing
  • Examining risk factors in processing each type of corporate action
  • Workshop: Assessing the risks in merger and tender offers and rights issues

Clients who register for this course will receive a complimentary 4-month subscription to FT.com. The Financial Times is the world's most respected financial newspaper, providing a broad assessment on finance, business and the industrial sector. The move to the electronic version follows an ongoing review of our environmental responsibilities as a global business and as part of the Pearson group. FT.com also has features that are not available in hard copy, such as: Special Reports, Alphaville, editor blogs, education sections and much more! Subscriptions will start within 6-8 weeks of the start of class and are limited to one subscription per client. (Please note: as of May 1, 2011, the electronic subscription replaces the hard-copy 3-month Financial Times subscription.)

Lunch is included for all students taking day classes.