Clearing, Settlement, and Custody

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"Clearing, Settlement, and Custody" introduces the post-trade infrastructure and its institutions. Author David Loader reduces the complexity of this environment in a non-technical way, helping students and professionals understand the complex chain of events that starts with securities trading and ends with the settlement of cash and paper. The book examines the roles of clearing houses, central counterparties, central securities depositories, and custodians. It assesses the impact on workflow and procedures in the operations function at banks, brokers, and institutions. In consideration of technological and regulatory advances, the book adds new chapters while introducing new case studies and updating examples.