List price: $75.00 (that's 30% off!)
I thoroughly recommend it.
Whether the investor is based in, for example, the Far East, North America, Australasia or Europe, and whether that investor trades in securities issued in New Zealand, the UK or the USA, many concepts of both trading and settlement absolutely apply.
The approach I have taken in this book is to explain first principles and concepts, all of which are applicable in all marketplaces to some extent, and then to quote examples from various marketplaces. I chose not to explain the specific workings of one marketplace, as this makes it more challenging for a reader to relate those specifics to other marketplaces.
Increasingly, those who work (or aspire to work) in the operations and settlement areas of brokerage houses, investment banks, institutional investors (etc.) will be required to have a broad outlook in terms of settlement and operational practices in numerous marketplaces. They will also be expected to apply known concepts to new marketplaces in which their organisation invests. In an operational sense, the modern investment organisation strives for commonality of approach across all marketplaces; by doing so its costs and risks are minimised, and its clients are serviced in a standard but efficient fashion.
The facts of the matter are that each marketplace has its own operational and settlement peculiarities; every marketplace differs from every other marketplace in some respects. No two European countries operate in the same way, and Japan's practices differ from Australia's, for example. However, investing in a new marketplace should hold no fears for an investment organisation, providing its staff are aware of the types of questions to which the organisation needs answers, the internal procedures that are necessary, and the deadlines and service levels it must provide to its clients. An awareness of the concepts is therefore essential.
Brokerage houses and investment banks (whether located in the US, Europe, Asia or Australasia) must be capable of responding to the needs of their client base; if their clients wish to invest overseas, the brokerage houses/investment banks must be fully aware of and in control of settlement procedures in those overseas markets. If not, operational costs can outweigh the trading profit or commission made on the trade. In these respects, all investment organisations that trade overseas are in precisely the same position.
Securities Operations breaks the operational process into bite-size pieces, and additionally connects the relevant pieces together to form a complete view.
was just as good to me the second time as the first.
I will never understand the disparagey in the verdicts.To me the one that was most guilty got off scott free, while the least
guilyy got the worst punishment.That militarry justicefor you though.