Overview of Global Securities Services

This one-day program presents an overview of the global security trade flow and the participants involved in executing, booking, clearing and settling a global transaction. The program explores the interaction of the participants, their functions and how they accomplish their functions including transmission of instructions and information, matching trade data and reporting settled and open trades.

15-Oct-2008 -- 15-Oct-2008New YorkUSD$1475
NY Institute of Finance - Downtown9:00am - 4:30pm Instructional Method:
Group-Live
Instructor(s): [ Neale Steiniger; ] Wed Level: Basic
CPE Credits: 7.0

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 flow of a trade from order entry to post settlement
  • Compare the roles played by the VMU, CCP, CSD and ICSD
  • Identify areas of risk in processing global securities
None
Overview

Order and instruction flow

    Participants

    • Issuers, Transfer Agents and Registrars
    • Investors
    • Brokers
    • Banks
    • Clearing and Settlement facilities

    The Execution of International Transactions

      Trades Processing

      • Creating the trade confirmation and trade instructions
      • Standard Settlement Instructions
      • Instruction Flow and the VMU

      The Clearance Process

      • Comparison of Clearance facilities
      • **Vendors
      • **Role of the Clearing House
      • **International Clearing Depositories (ICSDs)

      The Settlement Process

      • Physical vs. Book Entry Settlement
      • Instruction Matching
      • Securities transfer systems
      • Funds transfer systems

      Post Settlement Process

      • Close Out Procedures
      • Settlement in the ‘no-fail’ markets

      Services of the Custodian Bank

      • Processing Trade Instructions
      • Receipt, delivery and safekeeping of securities
      • Cash Management
      • Notification and processing capital changes
      • Redemptions, conversions, exchanges, tender offers
      • Exercise or sale of rights issues
      • Dividend and Interest Income
      • Tax withholding and reclaims
      • Proxy voting
      • Securities Lending
      • Risk Assessment and Management

      Workshop

      • Participants will explore problems in processing a cross-border trade

Clients who register for this course will receive a complimentary 6 month subscription to the Financial Times and FT.com. The Financial Times is the world's most respected financial newspaper providing a broad assessment on finance, business and the industrial sector. Subscriptions will start within 6-8 weeks of the application process, and are limited to one per client. For questions about your subscriptions call 800-628-8088 or email uscirculation@ft.com. US and Canada enrollees only.

Lunch included for all students taking day classes.