Clearing and Settlement of Derivatives

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Butterworth-Heinemann, Aug 16, 2005 - Business & Economics - 272 pages
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This book makes the reader aware of the background to the derivatives markets, how they have developed and their importance today.

Clearing and Settlement of Derivatives addresses how and why derivative products are used and how the industry is structured, looking at both the exchange and over-the-counter markets. The role of the various parties is explained and the interaction between securities, commodities and derivatives explored.

The key regulation that affects the use of derivatives by banks, corporate companies, institutional investors and private clients is covered and by way of example, the book reviews the various Directives affecting investment funds’ use of derivatives, capital adequacy requirements on banks and guidelines for private client use. The regulations looked at will be international, making this book suitable for most UK, European, and North American markets.

* Informs and educates the reader about derivative products and everything that happens when trades take place without using confusing technical detail and unexplained jargon
* Explains the background to derivatives and the market infrastructures and regulation in a clear and easy to read way
* Deals with the extensive procedures and processes involved in lively, easy to follow "road maps"
 

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Contents

The development of futures and options and OTC derivatives
1
Derivative products
15
The role of the clearing house
35
Futures processing
45
Options processing
83
OTC products
97
Using derivatives in investment management
115
Margin and collateral
125
Impact of corporate actions
143
Operational risk
157
Glossary of derivatives terms
167
Appendix
203
Index
265
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About the author (2005)

David Loader is co-founder of DSC Portfolios Ltd., which specializes in global training and consultancy services for the financial industry. David has worked in the debt, equity, and derivatives markets, and his expertise in back-office dynamics is unparalleled. He has written widely on operations management, derivatives, fund administration, and operational risk.

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