Securities Clearing and Settlement

Securities clearing and settlement is an area that is changing constantly. It is essential for financial service providers to keep up with changes in this area, since an error or a failure in settlement can have significant consequences. This course provides participants with a solid understanding of what happens to securities "after the trade is made”.

Course Content

  • Classification of securities according to the ISO standard 10962
  • Life cycle of a securities transaction
  • Differences between clearing and settlement
  • Net vs. gross clearing
  • Clearing and central counterparties
  • Approaches to settlement
  • Characteristics of central securities depositories, both domestic and international
  • TARGET 2 Securities
  • Settlement criteria
  • Impact of instrument characteristics on settlement
  • Differences in market practice in diverse markets
  • Standardisation of clearing and settlement
  • Principal risk and regulatory issues affecting clearing and settlement

Target Audience

Financial service professionals who want to have a good understanding of securities clearing and settlement.

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