The Marketplace, Trade Process, Clearing Corporations and Settlement

This course begins with an introduction to the marketplace. We'll learn about the characteristics of the marketplace and how it interacts with the operation process. We’ll look at the evolution of the U.S. equity market and learn how to identify the reasons why some trades take place in Over the Counter Markets instead of an exchange. We’ll also look at the functioning of an Order Management System and Bond Secondary Market trades.

Next, we’ll cover trade processing where we’ll learn how to identify the steps to process a trade and the components of the trade processing cycle.

In our next section, we’ll learn the definition and role of clearing corporations, NSCC, and other clearing corporations. We’ll also identify the steps involved in the workings of Option Clearing Corporation and Mortgage Backed Securities Clearing.

We’ll wrap up this course with an overview of Settlement. We’ll learn the responsibilities of the Purchase and Sales Department and identify the cause of Fails and how they can be rectified. We’ll also learn the steps involved in the working of the buy in process and the different types of financing tools.

This course is part 2 of the New York Institute of Finance’s Brokerage Operations Professional Certificate program.