This course "rides a ticket" from the inception of a trade execution order through to settlement and asset servicing. Each facet of the process is thoroughly explored including how a trade is executed, the process of clearance with counter-parties, the settlement process and how corporate actions/income processing takes place. The course looks at both fixed income and equity securities. A key component of the course is identifying and discussing the current key trends in brokerage operations and why those change are occurring.

Objectives

By the end of the program the course participant will be able to:

• Identify the features and characteristics of fixed income and equity securities
• Identify the key players in the trade life cycle
• Identify all of the trading markets, understand the differences and inter-relationships
• Understand how the clearing process works, both in a bi-lateral and central counter-party scenario
• Understand the settlement process and all of the problems that may occur
• See how all of the primary departments in a broker/dealer inter-relate
• Understand how the industry self-regulates itself with respect to compliance and regulatory issues
• Distinguish the differences between individual and institutional processing
• Know the key initiatives in the industry today, including straight through processing, risk assessment and reduction, and shorter settlement cycles
• Understand the technological developments in the industry including messaging protocols and standardization

This course is targeted at everyone in the securities industry who feels that they do not have a complete understanding of the total process from trade through asset servicing. This course has benefited individuals in the ancillary departments including audit, accounting, client services, information technology and sales. It also gives a deeper understanding to people currently in operations and trading who do not fully understand what happens before and after they have completed their part of the process.