Operations and IT Training
The program will benefit middle-office and operations personnel, and will also be invaluable for people working outside of securities operations including internal, legal and compliance personnel, financial controllers, IT, HR and junior trading and sales.
The principal objectives of the seminar are to:
Provide a comprehensive understanding of the processes involved in the life cycle of a securities transaction.
Highlight the transaction flow from trade execution, through matching, settlement and accounting. Explain straight-through-processing (STP) and its importance in the international securities industry.
Discuss where STP can break down and where manual intervention is required.
Explore the costs of processing trades and the importance of bottom-line profitability.
Analyse the risks inherent in the securities business.
Examine the roles of the middle office and operations in controlling risk.
Focus on cash management, securities borrowing and lending.
Explain why securities transactions can fail, the impact and risks of failed trades, the steps that should be taken to minimise fails, and how to manage them when they do arise.
Trades Processing and Settlement
Trade execution and capture; exchange traded versus over the counter (OTC)
How securities are priced and calculating the proceeds of a transaction
Securities products, including fixed income securities, equities, derivatives
Trading strategies and their impact on operations; long, short, arbitrage, hedge
Primary versus secondary markets
A new-issue timeline
Securities administrations functions
Roles and responsibilities of the Middle Office and operations
The trades processing flowchart and how systems interact
The trade to settlement timeline
Reference data management
The role of the centralised securities depository (CSD)
The role of the Global Custodian
Delivery versus payment (DVP) and free of payment (FOP) settlement
Corporate action events
STP, Fails and Fails Management
Understanding STP and its importance
How to ensure the highest level of STP
Why securities transaction may fail
How to avoid fails
Why fails management is so important
The cost and risks of fails
Mark to market of fails
An introduction to securities borrowing and lending
Fails Management Case
Risk and Controls
What can go wrong with a securities transaction
Product control; P&L and inventory
The mark to market process
Cash and depo reconciliations
Risk Management Case
NB All practical sessions are highlighted like this:
means a Workshop or Simulation
means a Case study
"Excellent course all around!"
– Jeremy R.
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