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Course List
Introduction to the Securities Industry
Introduction to the Securities Industry
Introduction to U.S. Securities Processing
Securities Lending and Borrowing : An Operations Perspective
Foundations of Investment Management and Buyside Operations
Dealing with Change in the Financial Markets
Collateral Management: An Operations Perspective
International Issues
International Securities Operations
International Portfolio Accounting
Foreign Currency: Markets, Clearance, Settlement & Accounting
Foreign Exchange: Lifecycle of a Trade
Corporate Actions
U.S. Domestic Corporate Actions
Global Corporate Actions
Capital Markets
Capital Markets Overview
Capital Market Economics - Investigating the Linkages Between the Real Economy and the Financial Markets
Portfolio Management
Portfolio Management
Securities Analysis
Managing Risk
Risk in a Global Market - Management and Operational Challenges Looking Forward
Financial Management
Financial Accounting and Financial Mathematics
Financial Statement Analysis
Fixed Income Securities
Bond Math: Mathematics of the Fixed Income Market
Structured Securities: MBS, ABS, CDOs
Introduction to Fixed Income Products
Accounting for Fixed Income Securities and Derivatives
Mortgage-Backed Securities
Collateralized Debt Obligations and Credit Default Swaps (CDOs and CDS)
Fixed Income Analytics
Interest Rate Swaps and Credit Default Swaps
Fixed Income Securities Trade Processing and Operations
Accounting, Regulatory & Management
Stock Brokerage Accounting & Securities Regulations
Introduction to Private Equity Markets
Trading After the Volcker Rule
Dodd-Frank for Non-US Derivatives Users
Complying with the MiFID II/MAR Rules
Introduction to Derivative Products
Derivatives: Markets, Operations, Accounting & Control
Derivative Products: Risk Management and Valuation
Option Valuation and Trading
Equity Derivatives: Futures and Swaps
Interest Rate Futures and Swaps
Introduction to Options: Products, Trading & Processing
Swaps Processing and Operations
Commodity Futures: Energy, Metals and Agricultural
Equity Options: Strategies, Accounting and Operations
Mutual Funds
Introduction to Mutual Funds
Mutual Fund Operations

Course Description
Introduction to U.S. Securities Processing
Available Dates:
October 17-18, 2018, New York
Course Code: 102
Duration: 2 days
Level: Basic
Fee: $1395.00
Instructor: Charlotte Scott
CPE Credits: 12
Prerequisite: No Prerequisite Required

This two-day course will provide a broad understanding of securities processing within the U.S. Markets. It is intended for new hires or for people who desire a more complete picture of how the trade life cycle for both equity and fixed income is processed from order entry to settlement. The program also covers trade financing, securities lending, margin, corporate actions and recordkeeping.

The "plumbing" of securities processing functions is examined beginning with a general overview of the marketplaces for securities and ending with Asset Services for securities. We will uncover the securities processes supported by the Middle and Back Office as well as the industry infrastructure including the clearing houses and depository of DTCC.

Current industry initiatives such as T+2 Settlement and Operational Risk Management and metrics are discussed throughout the program.

Topics for discussion include:

Market Overview

  • Exchanges/Markets
  • Equity and Fixed Income Securities
  • Market and Financial Industry Participants

Trade Cycle and Processing Overview

  •  Trade Life Cycle
  •  Order and Trade Management
  •  Trade Matching and Confirmation
  •  Clearance and Settlement
  •  Asset Servicing
  •  Reporting

Order and Trade Management

  •  Trading
  •  Orders
  •  Executions
  •  Cancels and Corrects
  •  Market Makers and Dealers
  •  Interfaces Required for Connectivity

Matching, Comparison and Confirmation

  •  Role of the Middle Office
  •  Confirmation Process
  •  Trade Allocation
  •  Confirm/Affirm and Central Trade Matching

Clearance and Settlement 

  •  Role of the Custodian and Broker Dealer
  •  Clearance and Settlement Functions
  •  Functions Provided by Clearing Houses, Depositories, Securities Settlement Systems
  •  Payment Systems
  •  Trade and Position Reconciliation
  •  Fail Management: Costs and Reasons

Asset Servicing

  •  Entitlement Processing (Categories and Processing)
  •  Corporate Action Processing (Mandatory and Voluntary Processing)
  •  Role of the Transfer Agent
Trade Finance and Securities Lending
  • Equity Securities Lending
  • Repo

Record keeping

  •  Stock Records and Cash Ledgers
  •  Seg Requirements
By the end of this course, participants will be able to:
  • Identify the functional areas related to the life cycle of a trade from the inception of an order through settlement
  • Distinguish types of operational risk that have a potential impact on the firm and its customers
  • Develop an understanding of the trade life cycle 
  • Understand important securities processing functions such as Dividend and Interest Payments and Corporate Actions
  • Explore the basics of Securities Lending