As the securities industry becomes increasingly automated, understanding of the start-to-end operational processes and the underlying reasons as to why the tasks are performed is likely to diminish. Yet, knowledge of the 'bigger picture' is essential for implementing efficiencies and benefits. In this book, Michael Simmons clarifies the operational process from start to finish, highlighting appropriate risk management strategies.
* Introduces the reasons for the existence of securities and describes the roles of the various participants within the industry
* Develops the reader's knowledge of the trade lifecycle and other operational activities in a logical sequence
* Describes real-life events to illustrate topics
* Conveys both the risks inherent in the various activities and the necessary controls to minimise such risks
* Provides descriptions of typical automation in today's operational processing environment
* Describes securities industry objectives and the initiatives being developed to achieve them.
Simmons (Wilco International, London) explains the foundational concepts of the securities trade lifecycle. The book is intended for novices or specialists seeking a broad overview of securities operations outside their area of expertise. After presenting the foundations regarding securities and the characters within the marketplace, he describes the trade cycle's component parts and describes position management resulting from trading activity. The text highlights internal controls and the mitigation of risk. Annotation c. Book News, Inc., Portland, OR (booknews.com)