Securities Operations: A Guide to Trade and Position Management

Index

account settlement, 156

accounting, 385–407

basis, 387

department, 66–7, 385

entry lifecycle, 389–403

generic principles, 386–7

marking to market, 304, 390, 402–4

profit & loss

calculation conventions, 404–6

realised, 55, 398, 406–7

unrealised, 55, 390–401, 407

accruals, 386–7

accrued interest, 59, 117–24

accrual basis, 122–3

accruing for, 393–4

calculation, examples of, 118–23

concepts, 117

day count, 121–3

divisors, 121–3

negative, 124

additional trade amounts, 116–26

advisory

settlement instructions, 246, 249

trade matching messages, 197–8

agency trading, 24

agents for investors, 17, 21–3

Alert, 141

allotment letter, 362

American depository receipts, 102–3

amortising bonds, 109

‘as-of’ trades, 154, 180

automatic securities lending/borrowing, 325–6

back office, 56–64

balance sheet, 386

bearer securities, 91–93

method of transfer, 95–7

bid price, 26, 404

bilateral netting, 270–1, 422

block-level matching, 200

board lots, 103

bonds

accrued interest, 59, 117–24

capital repayment, 12, 37, 92–3, 104, 359

certificate, example of, 92

characteristics, 108–10

coupon, 12, 37, 92–3, 342–3, 347–8

denominational values, 38, 92, 96, 138

description of, 11–12

face value, 38, 92

issue, example of, 36–8

issue size, 37, 92

maturity date, 12, 37, 92–3, 104, 359

price, 38

price fluctuation, 14

price types, 115

redemption (final), 359

static data, 138

stripping, 107

types, 103–8

warrants, 107

bonus issues, 45, 343–5

book entry, 91, 95–9

book transfer transactions, 77–8

books and records, ...