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After the Trade Is Made: Processing Securities Transactions by David M. Weiss

After the Trade Is Made: Processing Securities Transactions David M. Weiss ebook
Page: 411
ISBN: 1591841275, 9781591841272
Format: pdf
Publisher: Portfolio Hardcover

DTCC's Tampa office is a key component of a larger business continuity strategy the company put in place after September 11, 2001 to decentralize the processing functions and operations support that DTCC provides to the global financial DTCC has operating facilities and data centers around the world and, through its subsidiaries, automates, centralizes, and standardizes the post-trade processing of financial transactions for thousands of institutions worldwide. The solutions proposed in its report, entitled 'Second Advice', are expected to lead to an improved and harmonised legal framework for holding and settlement of securities through intermediaries and for the processing of corporate actions. Furthermore Internal Market and Services Commissioner Charlie McCreevy said: "Legal barriers make it much more complex to hold securities cross-border, and lead to higher costs for transactions and credit. Net down more than 90 percent of the MBS trades it processes, but in its role as a CCP for these trades it will introduce not only a trade guaranty but an additional netting process—pool netting—that will further streamline settlement on the related delivery obligations. Today, OTC trading is highly automated and most transactions are reported in well under 90 seconds. Indeed, FINRA Recognizing that members will require sufficient time to make necessary system changes, FINRA is proposing to delay the effective date of the new reporting requirements for six to nine months after SEC approval. Product DescriptionProviding an explanation of each step in the trading process, this updated edition covers the technological changes and developments. It will guarantee settlement of all matched MBS trades, a crucial step for the securities industry where the settlement of an MBS trade often does not take place until months after the trade itself was made. List: $55 Deal: $42.86 ($12.14 off) …firm, as well as their relationships with commercial banks, transfer agents, clearing corporations, and depositories. Product Description The fully updated classic guide to the mechanics of securities processing—a must for professional investors. This 90-second reporting requirement has been in effect since 1982, when OTC trading was primarily a manual process.