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Course List
Introduction to the Securities Industry
 
Introduction to the Securities Industry
Introduction to U.S. Securities Processing
Introduction to Investment Management - Front and Back Office
Securities Lending and Borrowing : An Operations Perspective
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
Internet and Technologies
 
Improving Systems Project Outcomes in the U.S. Securities Industry
Corporate Actions
 
Corporate Action Events and Processes
Global Corporate Actions Processing: Basic Level
Global Corporate Actions Processing: Advanced Level
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
Managing Operational Risk
Understanding and Managing Classic and Systemic Risks
Financial Management
 
Financial Accounting and Financial Mathematics
Financial Statement Analysis
Fixed Income Securities
 
Bond Math: Mathematics of the Fixed Income Market
Fixed Income Trading and Processing
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
Accounting, Regulatory & Management
 
Stock Brokerage Accounting & Securities Regulations
Introduction to Margin
Introduction to Private Equity Markets
IT Project Management for Financial Services Professionals
The Dodd-Frank Wall Street Reform and Consumer Protection Act
Implementing the Trading Components of the Dodd-Frank Act
Derivatives
 
Introduction to Derivative Products
Derivatives: Markets, Operations, Accounting & Control
Derivative Products: Risk Management and Valuation
Option Valuation and Trading
Derivatives Reform Readiness: Understanding Derivatives Reform and Business Conduct
Derivatives Reform Readiness: Workflows and Opportunities
The Lifecycle of a Derivative: Listed and OTC
Interest Rate Futures and Swaps
Introduction to Options: Products, Trading & Processing
Swaps Processing
Equity Options: Strategies, Accounting and Operations
Mutual Funds
 
Introduction to Mutual Funds
Mutual Fund Operations

Course Description
Introduction to Margin
Available Dates:
March 26, 2013, New York
Course Code: 705
Duration: 1 day
Level: Basic
Fee: $795.00
Instructor: Mike Curley
CPE Credits: 7
Prerequisite: No Prerequisite Required.

This one-day seminar presents in a concentrated format the essential information about margin: functions, responsibilities and daily duties of margin department staff, and the impact of margin activities on other departments.

This course is intended primarily for members of the Margin Department and those who interact with this department, including Compliance EDP, internal audit, and other operations personnel.

Conducted in a workshop format, to encourage interaction, the program emphasizes what typically goes on in the Margin department, why and how. Exercises are included to provide opportunities to try out realistic situations.

Topics for discussion include: 

The Federal Reserve System

  • Purpose
  • Functions
  • Powers
  • Structure

The Cash Account

  • Bona fide cash transactions
  • Prompt payment
  • Settlement date
  • Extension of time
  • Liquidations
  • 90-day freeze
  • C.O.D. Transactions
  • Sales of securities/delivery of securities

The Margin Account

  • Federal initial margin requirement
  • Purchase and sales
  • Regulation T excess
  • Withdrawals
  • Buying power
  • Computation of Reg T margin calls
  • Various deposits to meet margin calls

NYSE Initial and Maintenance Requirements

  • $2,000 initial equity
  • 25% minimum maintenance equity
  • Issuance and collection of calls
  • Meeting maintenance calls
  • Post to an SMA
  • Understand how a short sale is processed
  • Understand the mechanics of a stock loan
  • How a short sale is posted

Special Memorandum Account

  • Purpose
  • Background
  • Computation of buying power
  • Trading using SMA
  • Withdrawals
  • Deposits of securities
  • Liquidating transactions

Short Sales

  • Definition
  • Purpose
  • Stock loans
  • Executing short sales
  • Margin Requirement Reg T
  • Computation of equity
  • Mark to market
  • Maintenance requirements
  • Special requirements on low-priced securities
  • Mixed accounts long and short
After completing this seminar, participants will be able to:

 

  • Post a margin account
  • Compute buying power
  • Understand the workings of a cash account  
  • See what role the Federal Reserve plays regarding credit on securities

 

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