Description
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
Table of Contents
1 - The structure of clearing and settlement2 - The role of the clearing house, trade repositories and central securities depositories3 - Bond Settlement4 – Equity clearing and settlement5 – Clearing and Settlement of Derivatives6 - Custody services7 - Securities Lending8 – Settlement of Portfolio Transactions and Subscription/Redemption of Shares and Units in Investment Funds9 – Risk and RegulationGlossary
