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Clearing, Settlement and Custody (Securities Institute Operations Management) [Kindle Edition]

David Loader
3.0 out of 5 stars  See all reviews (3 customer reviews)

Print List Price: £50.99
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Book 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 procedures to meet future changes that will occur.

In this book the author looks at some of the different roles, the processes and procedures, and the key issues, in order to help those in operations meet the challenge.

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.

Product Description

About the Author

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.

Product details

  • Format: Kindle Edition
  • File Size: 2356 KB
  • Print Length: 256 pages
  • Publisher: Butterworth-Heinemann; 1 edition (5 Sept. 2002)
  • Sold by: Amazon Media EU S.à r.l.
  • Language: English
  • Text-to-Speech: Enabled
  • X-Ray:
  • Word Wise: Not Enabled
  • Average Customer Review: 3.0 out of 5 stars  See all reviews (3 customer reviews)
  • Amazon Bestsellers Rank: #652,416 Paid in Kindle Store (See Top 100 Paid in Kindle Store)
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Customer Reviews

3.0 out of 5 stars
3.0 out of 5 stars
Most Helpful Customer Reviews
5 of 6 people found the following review helpful
3.0 out of 5 stars Instantly dated but still a fantastic resource 14 Sept. 2006
As always in such a rapidly evolving industry, some of the facts in this book are out of date. This shouldn't, however, detract from what is still a very useful book. It helps to explain the workings of securities back office operations in a clear and well organised way. Even seasoned back office veterans will find this and the accompanying books on Derivatives settlement and Operations Technology useful on a day by day basis. A revised and updated edition reflecting the changes over the last 4 years would be a godsend!
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1.0 out of 5 stars Poorly written 29 April 2011
By Tim
Format:Paperback|Verified Purchase
Unfortunately this book is very poorly written. Terms and concepts are not well explained or defined. It is more a loose collection of bullet points than an genuine explanation of the processes. When I was a newcomer to the industry, I found this book frustratingly difficult to extract useful information from.
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Not to mention any names, this was recommended by an Investment Banker type who has been round the block many times and still refers to it. Says it all.
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Most Helpful Customer Reviews on (beta) 2.3 out of 5 stars  3 reviews
25 of 28 people found the following review helpful
1.0 out of 5 stars This book is a waste of your money 1 Feb. 2006
By V. Srivastava - Published on
Buying this book is probably the worst purchase decision that I have ever made. This book is more like a small glossary of financial terms and entities. As far as diagrams and tables are concerned, there are none. Even the basics like confirms, trade matching, reconcilliation are not covered.
5 of 6 people found the following review helpful
4.0 out of 5 stars A book for beginners 19 Jan. 2007
By Cheng Lam - Published on
I have worked several years as an IT developer in the clearing and settlement area for a major firm in the securities industry. This book is not an encyclopedia nor a book written for specialists. Rather, it allows me to spend 5 minutes and learn enough on a subject so that I can have an intelligent conversation with a user. The book is an easy read for a non-expert and the layout is very comfortable. Several of my coworkers have been coming around and borrowing my book. So I guess they like it too. A more appropriate title for this book would have "An Introduction to Clearing, Settlement and Custody" or maybe "Clearing, Settlement and Custody for Dummies".
1 of 1 people found the following review helpful
2.0 out of 5 stars Two Stars 24 Aug. 2014
By ILMAN CHUNG - Published on
It's just a collection of terminologies. The structure of contents is not well organized,too.
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