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FINANCIAL MARKET COURSES

Life of a Trade

Course Listing

Without the efficient processing and management of a trade throughout its life, the trade would be pointless in the first place. In reality, for a trade to take place, significant planning and follow-up is required. Therefore, a deeper understanding of trading requires understanding the entire trade lifecycle – the sequence of events that occurs and processes that are implemented when a trade takes place.

 

This course describes the trade lifecycle in detail, covering topics such as client onboarding and other pre-trade activities, trade execution and capture, trade clearing and settlement, and ongoing position and risk management.

Learner Profile

This course is designed in particular for new recruits to banks and other financial institutions as well as operations and support staff in these institutions. It will also be useful for any other personnel looking to refresh their knowledge of the end-to-end lifecyle of a trade in today’s markets.

  •    LIFE OF A TRADE – AN INTRODUCTION

    Overview

    This course provides a detailed introduction to the trade lifecycle, the different stages of that lifecycle, and the key participants in it. The course also describes how trading can be categorized by asset class and whether a trade represents a cash or derivatives market transaction. Other topics covered by the course include margin trading, securities lending, high touch versus low touch trading, straight through processing (STP), and settlement cycles.

    Course Duration

    60 mins

    Prerequisite Knowledge

    Financial Markets – An Introduction

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  •    LIFE OF A TRADE – PRE-TRADE

    Overview

    This course focuses on activities that occur pre-trade. It describes the client onboarding process, including the various regulatory and compliance checks to ensure that an institution is legally permitted to retain the client. The course also explores various aspects of pre-trade planning, including client motivations for trading, view formation, transaction cost analysis, and pre-trade risk controls.

    Course Duration

    60 mins

    Prerequisite Knowledge

    Life of a Trade – An Introduction

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  •    LIFE OF A TRADE – EXECUTION

    Overview

    This course explores trade execution, describing how execution systems work in practice and the process of order creation, order routing, and trade execution. The course explains a variety of execution orders and the different types of execution market today, including exchanges, alternative trading venues/systems such as dark pools, and over-the-counter (OTC) markets.

    Course Duration

    60 mins

    Prerequisite Knowledge

    Life of a Trade – Pre-Trade

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  •    LIFE OF A TRADE – CLEARING & SETTLEMENT

    Overview

    This course explores the activities that take place after a trade is executed. These activities, which are collectively referred to as clearing and settlement, include trade capture, trade enrichment, trade validation, trade confirmation/affirmation, trade reporting, and settlement instructions. The course also describes the role of key participants in the clearing and settlement process, including clearinghouses, central counterparties (CCPs), central securities depositories (CSDs), and custodians.

    Course Duration

    60 mins

    Prerequisite Knowledge

    Life of a Trade – Execution

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  •    LIFE OF A TRADE – ONGOING POSITION  & RISK

       MANAGEMENT

    Overview

    This course describes ongoing position and risk management. It outlines the asset servicing solutions that custodians provide for their customers, including services related to corporate actions. The course provides an understanding of counterparty credit risk and how it is reduced, before exploring trade reporting and reconciliation. Post-trade transaction cost analysis is covered in detail, including a discussion of the various types of transaction cost and the methods by these costs can be measured. The course concludes with a discussion of profit and loss (P&L) and risk reporting.

    Course Duration

    60 mins

    Prerequisite Knowledge

    Life of a Trade – Clearing & Settlement

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  •    SCENARIO – THE TRADE LIFECYCLE IN ACTION

    Overview

    This scenario explores how various trade lifecycle concepts are used in practice. You will observe a situation where a mutual fund forms a relationship with a broker-dealer. The mutual fund forms views, plans trades, and places orders, while the broker-dealer facilitates trade execution. You will follow the trades from onboarding, through pre-trade planning, trade execution, clearing, settlement, and ongoing position management.

    Course Duration

    45 mins

    Prerequisite Knowledge

    A good understanding of the trade lifecycle, from pre-trade to ongoing position and risk management, is required. A working knowledge of exchange-traded funds (ETFs) and interest rate swaps would also be useful.

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