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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

After the Trade Is Made: Processing Securities Transactions. €�If you don't match a Beginning in 2015, securities transactions in European Union regulated markets will have to settle no later than the second business day after trading takes place. 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. The European Commission has proposed that financial market participants should settle their securities transactions no later than two days after the date on which a trade is executed, referred to as a T+2 settlement cycle. 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. €�The movement to T+2 is definitely bringing traction as people realize they have one less day to settle a trade, and therefore need to match the trade as early as possible in the process,” said Paul Taylor, director of global matching at financial messaging network Swift. The fully updated classic guide to the mechanics of securities processing—a must for professional investors. Product DescriptionProviding an explanation of each step in the trading process, this updated edition covers the technological changes and developments. We understood from market participants that there were several types of trading platforms being used to effect transactions in security-based swaps, including security-based swap agreements that became security-based swaps on the effective date, that would likely register as security-based swap execution facilities (“security-based SEFs”) and that the use of trading platforms to effect security-based swap transactions would continue after the Title VII effective date. [2] For a detailed description of post-trade processes for securities and derivatives, see David M. Today, OTC trading is highly automated and most transactions are reported in well under 90 seconds. 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. This 90-second reporting requirement has been in effect since 1982, when OTC trading was primarily a manual process. Weiss, After the Trade Is Made: Processing Securities Transactions (2d rev.