Financial Markets Operations Management (57 page)

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Authors: Keith Dickinson

BOOK: Financial Markets Operations Management
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  • national CSDs
    see
    domestic CSDs
  • national numbering agencies (NNAs), securities
  • national rules, corporate actions
  • national securities exchange (NSE)
  • National Settlement Depository (NSD), Russia
  • NAV (net asset value)
  • NCMs (non-clearing members)
  • negative correlation, securities financing
  • negotiating terms, securities financing
  • net asset value (NAV)
  • net settlement
  • new issuance
    • CBL
    • EB
  • nil paid rights (NPR)
  • NNAs (national numbering agencies)
  • nominal amount required, bonds
  • nominee account, holding securities
  • non-cash assets, reconciliation
  • non-cash collateral
  • non-cleared OTCDs
  • non-clearing members (NCMs)
  • non-life insurance
  • non-trading derivatives
  • non-treaty rate countries
  • nostro reconciliation
    • see also
      cash reconciliation
  • novation
  • NPR (nil paid rights)
  • NSD (National Settlement Depository), Russia
  • NSE (national securities exchange)
  • numbering systems, data management
  • NYSE LIFFE futures contracts
  • OCC (options clearing corporation)
  • offer price, securities
  • omnibus account, holding securities
  • on demand securities
  • open derivatives contracts
  • open interest, ETDs
  • open loans
  • open market operations, central banks
  • open repos
  • open trade reconciliation
  • operational CCPs
  • operations office
    see
    back office
  • operations relationships
  • optional stock dividends
  • options
    • actions required
    • bond redemption
    • CME listing
    • FRAs vs.
    • futures comparison
    • pricing
    • risks
    • specifications
  • options clearing corporation (OCC)
  • ordinary shares
  • organisational structure, investment companies
  • organised trading facilities (OTFs)
  • OTC market
    see
    over-the-counter market
  • OTCDs
    see
    over-the-counter derivatives
  • OTFs
    see
    organised trading facilities
  • out-of-the-money (OTM) options
  • outgoing trade confirmations
  • output of trade, securities clearing
  • over-the-counter derivatives (OTCDs)
    • accounting lifecycle
    • amounts outstanding
    • clearing
    • CME listing
    • non-cleared
    • summary
    • trade repositories
  • over-the-counter (OTC) market
  • overnight DBV
  • owners' equity, accounting equation
  • ownership rules
  • ownership transfer, securities
  • ownership vs. location, reconciliation
  • PALs (provisional allotment letters)
  • pari passu
    shares
  • partial settlement
  • passive management
  • payers, IRS
  • paying agents
  • payment
    • corporate actions
    • corporate banking services
    • coupons
    • reconciled account
    • statistics, CPSS
    • system deadlines, cash forecasting
  • payment date
  • pending items, cash forecasting
  • pension funds
  • perpetual FRNs
  • personal banking
    • see also
      private banking
  • PFs (price factors), futures
  • physical settlement type
  • platform trading, derivatives
  • pooled account, holding securities
  • pooling market, securities
  • portfolio position approach, derivatives clearing
  • portfolios
    • choice
    • ETDs
    • European securities
    • reconciliation
    • revaluation
  • positions, reconciliation
  • positive correlation, securities
  • predictable events, corporate actions
  • predictive forecasting
    • see also
      forecasting
  • preference shareholder relationships
  • preference shares
  • premium
    • bonds purchased at
    • options
  • premium-settled options
  • prescription period, fixed-income bond coupons
  • price factors (PFs), futures
  • pricing
    • bonds using yields
    • corporate actions impact
    • equity
    • futures
    • options
    • rights issue
    • securities
  • principal amount, bonds
  • principal intermediaries, securities financing
  • private banking
    • see also
      personal banking
  • private wealth management
  • processing non-cleared OTCDs
  • processing problems, settlement failure
  • profit and loss, options
  • Profit and Loss Statement
  • project status, shorter-cycle settlement
  • property analogy, clearing houses
  • property tax
  • proprietary trading, investment banking
  • provisional allotment letters (PALs)
  • proxy voting
  • purchase funds
  • purchases
    • settlement
    • settlement failure
  • put options
  • quasi-sovereigns
  • real time gross settlement (RTGS)
  • rebate rate, securities
  • receipts, settlement failure
  • receive versus payment (RVP)
  • receivers, IRS
  • receiving agents, corporate actions
  • reclaiming tax
  • reconciliation
    • automation
    • back office
    • corporate actions
    • importance
    • methods
    • OTCDs
    • shares
    • types
    • worked examples
  • reconciliation risk
  • record date, corporate actions
  • records, event creation in
  • redemption
    • bonds
    • corporate actions
  • reference data
    • bonds
    • corporate actions impact
    • equity
    • importance
    • sources
    • types
  • reference rate, FRAs
  • reform requirements, derivatives
  • regional custody
  • registered CCPs
  • registered securities
  • regulated markets (RMs)
  • regulators, market regulators
  • regulatory changes, derivatives
  • regulatory oversight committee, GLEIS
  • regulatory reporting, securities
  • reinvestment rate, securities
  • relative value, managers
  • relayed links, CSDs
  • repayment calculation, money market instruments
  • replacement risk, corporate actions
  • repo desk
    • see also
      repurchase agreements
  • reportable instruments, securities
  • reportable transactions, securities
  • reporting
    • corporate actions
    • derivatives
    • securities clearing
  • repository services
    • see also
      trade repositories
  • repurchase agreements (repos)
    • collateral/margin
    • definition
    • Euro market
    • exposure
    • lifecycle
    • motivations
    • types
  • repurchases, corporate actions
  • reputational risk
  • required reference data
  • research, front office
  • reserve requirements, central banks
  • retail banking
  • retail clients
  • revaluation of securities
  • revenue securities
  • revenues protection, back office
  • reverse convertibles
  • reverse repos
  • rights issue
  • risk management
  • risk profiles, securities
  • risks
    • clearing house model
    • communication problems
    • corporate actions
    • derivatives usage
    • futures
    • options
  • RMs
    see
    regulated markets
  • rounding convention, OTCDs
  • routes to market, securities
  • RTGS (real time gross settlement)
  • Russian National Settlement Depository
  • RVP
    see
    receive versus payment
  • safekeeping
    • securities
    • summary of methods
    • see also
      custody
  • sales
    • front office
    • registered securities
    • securities financing
    • settlement
    • settlement failure
    • see also
      sell...
  • same-day affirmation (SDA)
  • SB-SEF (security-based SEF)
  • screen-based applications, EB
  • scrip dividend arbitrage
  • scrip options
  • SDA (same-day affirmation)
  • securities
    • accounting for
    • available for delivery
    • borrowing
    • CCP support
    • clearing
    • corporate actions
    • custody
    • data requirements
    • delivery
    • dematerialised form
    • derivatives distinction
    • financing
    • forecasting
    • forms of
    • holding securities
    • immobilised form
    • issuance
    • lending
    • municipalities
    • not available for delivery
    • purposes/time horizons
    • revaluation
    • reverse repos
    • settlement cycles
    • settlement types
    • T2S
    • transactions
    • transfers
    • see also
      bonds; equity
  • securities depositories
    • historical context
    • settlement at
    • settlement failure
    • see also
      central securities depositories
  • securities-driven repos
  • Securities Lending Services (ASLplus)
  • securities-related positions
  • securitised loans
  • security-based SEF (SB-SEF)
  • SEFs
    see
    swap execution facilities
  • segregated account, holding securities
  • sell/buy-backs
  • sell-outs
  • sell-side
    • Euro Market custody
    • intermediaries
    • securities financing
    • see also
      sales
  • sellers, securities accounting
  • services offered, global custody
  • settlement
    • at a designated time
    • clearing house model
    • conventions
    • corporate actions impact
    • definition
    • derivatives
    • failure
    • information, data requirements
    • instruction types
    • location
    • management
    • overview
    • in real time
    • repos
    • securities
    • shorter cycles
    • statistics
    • types
  • settlement date, securities
  • settlement failure management
  • share register entries
  • shareholders
    • disclosure reporting
    • meetings
    • relationships
  • shares
    • classes
    • optional stock dividends
    • reconciliation
    • rights issue
    • scrip dividend arbitrage
    • value of
    • see also
      equity
  • short call options
  • short coupons
  • short futures contracts
  • short positions, borrowing to cover
  • short put options
  • short selling, securities
  • shorter-cycle settlement
  • SI (systematic internaliser)
  • SIFIs (systemically important financial institutions)
  • simple interest calculation
  • Singapore
    • buy-ins
    • equity closing prices
    • regulatory authorities
  • single position approach, derivatives
  • sinking funds
  • software for reconciliation
  • sovereign borrowers, haircuts
  • sovereign wealth funds (SWFs)
  • SPAN
    see
    Standard Portfolio Analysis of Risk
  • special securities
    see
    on demand securities
  • specialist finance, corporate banking
  • speculation, derivatives usage
  • SSI (standing settlement instructions)
  • stamp duty
  • Standard Portfolio Analysis of Risk (SPAN)
  • standardisation, data management
  • standards implementation, corporate governance
  • standing settlement instructions (SSI)
  • statements
    see
    bank statements; financial statements
  • STF (stock transfer form)
  • stock dividends
  • stock exchanges
  • stock loans, OCC
  • stock options
  • stock transfer form (STF)
  • stockbrokers
  • stocks recorded in investor's name
  • straight bonds
  • street name securities
  • sub-custodians
  • subscription costs, rights issue
  • supervisory haircuts
  • suppliers/operations relationships
  • supranational agencies
  • swap execution facilities (SEFs)
  • SwapClear
  • swaps
    • see also
      interest rate swaps
  • SWFs (sovereign wealth funds)
  • SWIFT message format
  • syndicated loans
  • systematic internaliser (SI)
  • systemic issues, settlement failure
  • systemically important financial institutions (SIFIs)
  • T2S (Target2Securities) models
  • “T-account” format
  • T-bills (treasury bills)
  • Target2Securities (T2S) models
  • tax reclaims
  • taxation
    • accounting need
    • corporate actions
    • equity instruments
    • investment companies
    • see also
      withholding tax
  • technology vendors
  • temporary ownership transfer, securities
  • term DBV
  • term loans
  • term repos
  • theoretical ex-rights price (TERP)
  • third-party agents, securities financing
  • third-party custody providers
  • threshold, OTCDs
  • time schedule, proxy voting
  • time zones, cash forecasting
  • timing issues
    • cash forecasting
    • settlement
  • toll tax
  • trade affirmation, securities
  • trade allocation, securities
  • trade association websites
  • trade-by-trade reconciliation
  • trade capture
    • non-cleared OTCDs
    • securities clearing
  • trade confirmation
    • non-cleared OTCDs
    • securities clearing
  • trade date, securities
  • trade discrepancies' resolution
  • trade enrichment, securities
  • trade input, securities
  • trade lifecycles, market infrastructures
  • trade output, securities
  • trade reporting
  • trade repositories
  • trade tickets
  • trade validation, securities
  • traded position reconciliation
  • traders
  • trading
    • analysis of repos
    • front office
    • platforms for OTCDs
    • venue alternatives
    • volumes of ETDs
  • trading assets, definition
  • transaction tickets
  • transactional approach, data management
  • transactions
    • clearing instructions
    • CSDs
    • data management
    • depot reconciliation
    • ETDs
    • reporting
    • securities financing
    • settlement failure
  • transfers, securities
  • treasury bills (T-bills)
  • treasury deadlines, cash forecasting
  • treasury function, investment companies
  • treaty rate countries
  • tri-party contracts, repos

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