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FINANCIAL MARKET COURSES

Role of a Custodian in Trade Processing & Settlement

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.

  • OBJECTIVES

    On completion of this course, you will be able to:

    Understand the various capacities in which a custodian may operate in the life of a trade

    Describe the basics of trade execution

    Outline the role played by custodians in the recording and reporting of trades

    Explain the key role played by custodians in the settlement of transactions

  • COURSE OUTLINE

    Topic 1: Capacity of Custodian

    Role of Custodian

    Overview of Trade Processing

    Topic 2: Trade Execution

    Order Entry

    Order-Driven Vs. Quote Driven Markets

    Order Execution

    Topic 3: Trade Recording & Reporting

    Role of a Custodian

    Custodians Acting in Custodial Capacity Only

    Custodians Directly Involved in Executing & Clearing Trades

    Custodian as Clearing Party

    Topic 4: Trade Settlement

    Settlement Instructions

    Settlement Deadlines

    Role of a Custodian

    o Level 1: Custodian Maintains Securities Only

    o Level 2: Custodian Interfaces with a Central Depositary and Other Contra Parties

    o Level 3: Custodian is Involved in Trade Execution and Comparison

    Settlement Failure

    Ongoing Position & Trade Management

  • PREREQUISITE KNOWLEDGE

  • ESTIMATED COMPLETED TIME

    60 Minutes

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