Get Bank and Brokerage Back Office Procedures and Settlement: A PDF

By Mervyn J. King

ISBN-10: 0814405347

ISBN-13: 9780814405345

ISBN-10: 0814424473

ISBN-13: 9780814424476

Monetary associations world wide grapple with the issues of right criminal recording of purchaser transactions--whether an easy inventory alternate or conversion of currencies. This e-book indicates banks, brokerages, mutual fund businesses, and a bunch of economic associations find out how to enhance and increase operations administration to make sure cautious and exact again workplace task and transactions cost.

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Normally, without an SSI agreement, the two parties involved in a trade would have to either exchange delivery instructions via the dealing medium (eg, broker or Reuters) when the deal is struck if they were in different countries or exchange instructions by telephone if they were both in the same country. When two parties sign and commence an SSI agreement, they advise each other at which nostro correspondent they will always take delivery of specified currencies. Therefore, on all future trades, there is no need to advise one another where they receive traded currencies as this has already been established.

For example: · Codes for releasing payments through Society for Worldwide Interbank Financial Telecommunications (SWIFT), Central de Livraison de Valeurs Mobilières (Cedel), Euroclear, etc, should be restricted to those authorised to release such payments. · Sensitive information (eg, revaluation rates/programmes) should be either password or 'view only' protected to prevent unauthorised access/tampering. · All staff with password protected access should be trained to sign off when away from their terminals.

Physical Settlement This entails carrying out a series of duties in respect of all transactions emanating from front office (treasury, capital markets, corporate finance, syndicated loans, etc) effectively leading to making an actual paymentin full or as part of a netting arrangementin the right currency, in the right place and at the right time. This sounds easy, doesn't it? What on earth could go wrong? Post-settlement This will involve a plethora of responsibilities relating to the consequences of the processing/payment (eg, confirmations/SSIs and account maintenance) to the consequences (eg, cash management, nostro reconciliation and margin account management) and ancillary matters (eg, management reports, P&L calculations, tapes and risk).

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Bank and Brokerage Back Office Procedures and Settlement: A Guide for Managers and Their Advisors by Mervyn J. King

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