Clearing, Settlement and Custody, 2nd Edition

Table of contents

1. Cover image
2. Title page
3. Table of Contents
4. Copyright
5. Preface
6. Chapter 1. The structure of clearing and settlement
   1. Abstract
   2. The clearing house
   3. Changes in clearing
   4. Development of the clearing structures
   5. Objectives of clearing houses
   6. Summary
7. Chapter 2. The role of the clearing house, trade repositories and central securities depositories
   1. Abstract
   2. The role of the CCP
   3. The role of securities depositories
   4. The role of trade repositories
   5. Summary
8. Chapter 3. Bond settlement
   1. Abstract
   2. Introduction
   3. International bonds
   4. Domestic bonds
   5. Fixed-rate bonds
   6. Floating-rate notes
   7. Zero coupon bonds
   8. Maturity
   9. Lead manager
   10. Co-lead manager
   11. Market-maker
   12. Trade confirmation
   13. Settlement instruction
   14. International bonds, global bonds and convertible bonds
   15. Government bonds and domestic bonds
   16. Summary
9. Chapter 4. Equity clearing and settlement
   1. Abstract
   2. Introduction
   3. Issuing and trading equities
   4. Settlement
   5. Corporate actions
   6. Record date
   7. Pay date
   8. Ex-date
   9. Repayment of capital
   10. Stock benefits
   11. Capitalization
   12. Scrip dividends
   13. Stock situations
   14. Summary
10. Chapter 5. Clearing and settlement of derivatives
    1. Abstract
    2. Introduction
    3. Exchange traded futures and options
    4. OTC derivatives
    5. Further reading
    6. Summary: Useful reference websites
11. Chapter 6. Custody services
    1. Abstract
    2. Instruction from client to global custodian
    3. Reporting requirements
    4. Pooled nominee system (omnibus)
    5. Corporate actions
    6. Stock situations
    7. Take-overs, mergers and de-mergers
    8. Conversions
    9. Warrant exercise
    10. Pari passu lines of a security
    11. Redemptions and maturity
    12. Share suspension and liquidations
    13. Proxy voting
    14. Asset and cash management
    15. Single-currency accounts
    16. Multi-currency accounts
    17. Interest-bearing accounts
    18. Sweeping
    19. Banking services
    20. Withholding tax
    21. Double-taxation agreements
    22. Investment accounting
    23. Pricing and valuation reporting
    24. Investment analysis
    25. Summary
12. Chapter 7. Securities lending
    1. Abstract
    2. Introduction
    3. The characteristics of securities lending
    4. Uses of securities lending
    5. Securities lending precautions and controls
    6. The role of the prime brokers/global custodians
    7. Non-discretionary programme
    8. Discretionary (or managed) programme
    9. Benefits and entitlements
    10. Lenders’ rights
    11. Role of the custodian or intermediary
    12. Actions required
    13. Implications for collateral
    14. Repurchase agreement
    15. Summary
13. Chapter 8. Settlement of portfolio transactions and subscription/redemption of shares and units in investment funds
    1. Abstract
    2. Introduction
    3. Investment fund administration and support
    4. Portfolio administration and fund records
    5. Assets of the fund
    6. Administration workflow
    7. Margin and collateral
    8. Other activities affecting the portfolio administration
    9. Capturing data
    10. Subscription and redemption of shares and units in investment funds
    11. Summary
14. Chapter 9. Risk and regulation
    1. Abstract
    2. Contents
    3. Risk
    4. Clearing and settlement risk
    5. Regulation
15. Glossary
16. Index