By David M. Weiss
The absolutely up to date vintage advisor to the mechanics of securities processing—a needs to for specialist traders This 3rd version of After the alternate Is Made displays the alterations that experience taken position in fresh years because of new items, technological breakthroughs, and the globalization of the securities undefined. entire and simple to appreciate, it offers agents, operations group of workers, and person traders with definitive and up to the moment reasons of every step within the buying and selling process—from the instant a buyer comes to a decision to shop for or promote a safety during the ultimate specifications of checklist retaining. Written for either securities execs and person traders, even if family or in different nations, this new version basically explains the center of underwritings, new and demonstrated buying and selling markets, transaction processing, margin, and more—while supplying severe insights into the main contemporary wave of adjustments. David M. Weiss, a veteran securities specialist, strains the whole strategy of purchasing or promoting a safeguard, from order administration to transaction processing to the ultimate posting at the firm’s books and files. He covers the really good attributes of every functionality in a regular brokerage company, as good as their relationships with advertisement banks, move brokers, clearing organizations, and depositories. After the exchange Is Made is the definitive source for somebody wanting to comprehend and hopefully navigate the giant and sometimes magnificent international of securities.
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Additional resources for After the Trade Is Made: Processing Securities Transactions
These requirements are based on the type of business the broker/dealer conducts. There are different capital requirements for market-making broker /dealers, for clearing broker/dealers, and for nonclearing broker/dealers. There are also different capital requirements for broker/dealers that act as underwriters. Each type of business the broker/dealer is engaged in requires that a capital requirement be satisfied. The rules put forth by the Securities and Exchange Commission are enforced by industry self-regulatory authorities, which we discuss later in this chapter.
Requirements concerning reporting to the SRO 11. Procedures for processing customer complaints 12. Rules governing arbitration 13. Settlement cycles of the various instruments 14. Proper application of margin 15. What constitutes security possession and control 16. Procedures for conducting business with other broker/dealers 17. What constitutes “good delivery” of a security 18. Requirements concerning financial reporting to the regulatory authorities 19. What constitutes adequate books and records 20.
Their main headquarters is located at 450 Fifth Street, NW, Washington, DC. There are branch offices in New York, NY; Boston, MA; Philadelphia, PA; Miami, FL; Atlanta, GA; Chicago, IL; Denver, CO; Fort Worth, TX; Salt Lake City, UT; Los Angeles, CA; and San Francisco, CA. The SEC promulgates and enforces rules that the industry must abide by. Among these are Regulation T, which governs the lending of money by a broker/dealer to the public as well as the control and use of customer securities and funds.
After the Trade Is Made: Processing Securities Transactions by David M. Weiss