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FINANCIAL MARKET COURSES

Custody

Courses In This Course

The provision of custodial services – basically the ability to gather assets from clients, hold them in safekeeping, and service them – is essential to the proper functioning of financial markets. Originally characterized by the physical safekeeping of security certificates, the custody business today is a sophisticated, multi-trillion dollar industry offering a range of banking and specialized services to a wide variety of clients.

Objectives

In this course, you will explore:

The role of a custodian in the financial marketplace

The main types of corporate action, including mandatory events, mandatory events with options, and voluntary events

Prerequisite Knowledge

A basic understanding of trade processing is assumed.

Learner Profile

This course is designed for operations, corporate actions, and custody staff working in the banking or asset management industry.

  •    ROLE OF A CUSTODIAN

    Overview

    The provision of custody services – basically the ability to gather assets from clients, hold them in safekeeping, and service them – is essential to the proper functioning of financial markets today. The custody business can trace its origins to the days when securities and other assets existed only in paper or certificate form and investors needed a safe place to hold these certificates. As the investment industry grew and became more sophisticated, so too did the custody business.

     

    This course proves an overview of the role of custodians in modern-day financial markets. It explains the different aspects and dimensions of the custodial business, describes some of the basic tools used by custodians, and describes the key services they provide to their clients.

    Course Duration

    60 mins

    Prerequisite Knowledge

    Trade Processing – An Introduction

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  •    ROLE OF A CUSTODIAN IN TRADE PROCESSING

       & SETTLEMENT

    Overview

    The extent of a custodian’s role in the life of trade depends on the capacity in which the custodian is operating. In some cases, it may be operating purely in a custodial capacity – obtaining instructions from clients to receive/delivery securities versus cash and effecting the settlement of these instructions. In other situations, the custodian may be involved with the actual marketplace – executing and clearing trades, as well as effecting their settlement. This course looks at the role played by custodians in the processing of trades, from trade execution right through to trade settlement.

    Course Duration

    60 mins

    Prerequisite Knowledge

    Role of a Custodian

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  •    CORPORATE ACTIONS - AN INTRODUCTION

    Overview

    When a company issues a corporate action, it sets in motion an event that brings material change to the company and has ramifications for its stakeholders. However, processing corporate action events is a complex business involving many different market participants and including many possible event types. This course looks at the fundamentals of corporate actions from a number of different perspectives. It also discusses the role of the various participants in the corporate actions processing chain, with particular emphasis on the part played by custodians. A second course will look at the major corporate action event types.

    Course Duration

    50 mins

    Prerequisite Knowledge

    Role of a Custodian

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  •    CORPORATE ACTIONS - MAJOR TYPES

    Overview

    A key distinction needs to be made between corporate actions that are mandatory or compulsory and those that are voluntary or non-mandatory. From the point of view of stakeholders or investors, the distinction is important because mandatory events require no action on their behalf. Voluntary corporate actions, on the other hand, are those where investors opt to participate in the event or not. From the point of view of custodians and other participants involved in the corporate actions processing chain, the distinction is important because voluntary actions are generally more complex and hence involve greater risk. To complicate things even further, there are also a number of mandatory actions with options, where investors are required to make a choice among some alternatives offered to them as part of a mandatory corporate action.

     

    This course looks at the main types of corporate action – mandatory, voluntary, and mandatory with options. Examples of each are provided, with the focus on the most popular events in the corporate actions marketplace.

    Course Duration

    60 mins

    Prerequisite Knowledge

    Corporate Actions – An Introduction

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  •    REGISTRAR & TRANSFER

    Overview

    The maintenance of accurate and timely recording of security registration is important as it affects entire post-trade operations. From processing dividend payments to security holders in relation to major corporate actions, the ability to control and identify who actually owns a security cannot be underestimated.

     

    This course looks at the registration of the securities and, in particular, the role played in that process by registrars and transfer agents. The distinction between bearer and registered securities is explained, as well as the key differences between securities registered in the names of beneficial owners and those registered in nominee names. The functions of various other agents – many of which are performed by custodians – are described in detail, along with the requirements for the different types of security registration.

    Course Duration

    75 mins

    Prerequisite Knowledge

    Role of a Custodian

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