on 20 May 2005
For anyone in and around the investment bank industry this is required reading. It covers the entire gamut of the operations unit, from Trade Validation and Agreement, through Settlement Instruction Status management, to Position Keeping & Funding.
It is easy to read and very much "what does happen in the real world" rather than theory. I've read many books of this ilk and this is best of breed.
on 29 March 2013
I bought this book to get an overview of the trade life cycle within an investment bank. I would recommend this for anyone needing a similar overview. The focus is largely on the activities that are required within operations (mainly the settlement process) but there is the right level of information to give an understanding of what is required for trade processing throughout the organization. It does not go into any details about derivatives or complex instruments but does give an overview of product types that gives enough of a foundation to allow readers to build on should they need to subsequently go to more specialist material. A section on the accounting entries is an excellent walk-through some trade entries that gives a good understanding of the basic accounting entries. The book ends with a consideration of some of the issues and initiatives that have historically been considered important within trading organisations. There may be a few more added since the book was written. However, the issues covered are not obsolote. In my opinion, the whole book has the right level of detail . This book should be required reading for anyone supporting or working in a securities trading organization.