Securities Operations

Securities Operations

Contents

1. Essential Trading and Settlement Concepts

2. The Securities Marketplace

3. Bringing Securities to the Marketplace

4. Structure of a Securities Trading Organization

5. Transaction Types

6. Security Forms

7. Security Types

8. Trade Cash Value Calculation

9. Static Data

10. The Trade Lifecycle and Straight Through Processing

11. Trade Execution and Capture

12. Trade Enrichment

13. Trade Validation

14. Trade Agreement

15. Transaction Reporting

16. Settlement Instructions

17. The Role of the Custodian

18. Pre-Value Data Settlement Instruction Statuses

19. Settlement Failure

20. Trade Settlement

21. Reflecting Trade Settlement Internally

22. Position and Trade Related Operations

23. Funding

24. Securities Lending and Borrowing

25. Safe Custody

26. Corporate Actions

27. Reconciliation

28. Accounting

29. Objectives and Initiatives

Michael Simmons' Securities Operations is a definitive text on "back office" procedures for securities firms. For many years, Weiss (1993) was the book to read, but it is growing dated. Simmons offers a modern account that is more sophisticated than the earlier book. It is more international in its outlook, and slightly more advanced. A new hire with no experience in financial markets or operations may find Weiss (1993) more accessible. Readers who are only interested in US markets might find Weiss (1993) appealing as a supplement to Simmons. For all readers, especially professionals based outside the United States, I highly recommend Simmons.


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