Securities Operations: A Guide to Trade and Position Management [Hardcover]

Michael Simmons (Author)

Book Description

ISBN-10: 0471497584 | ISBN-13: 978-0471497585 | Publication Date: April 15, 2002 | Edition: 1

The only comprehensive account of operational risk in securities settlements
Securities Operations focuses on the settlement aspects of a securities transaction. As financial analysts make a greater effort toward quantifying and managing operational risk, they are paying more attention to securities transactions in general and to the settlement phase in particular. While describing the practical issues, this book enumerates the different "back office" related risks potentially encountered throughout the settlement. Simmons also covers more advanced topics such as derivatives, trade compensation, internal allocation of funding costs, and operational performance measurement.
Michael Simmons (London, UK) is currently Head of Business Consultancy at Wilco International, a major software systems provider to the financial markets.
Over the years, financial professionals around the world have looked to the Wiley Finance series and its wide array of bestselling books for the knowledge, insights, and techniques that are essential to success in financial markets. As the pace of change in financial markets and instruments quickens, Wiley Finance continues to respond. With critically acclaimed books by leading thinkers on value investing, risk management, asset allocation, and many other critical subjects, the Wiley Finance series provides the financial community with information they want. Written to provide professionals and individuals with the most current thinking from the best minds in the industry, it is no wonder that the Wiley Finance series is the first and last stop for financial professionals looking to increase their financial expertise.

Editorial Reviews

Review

"…Securities Operations provides an accessible and thorough review of the world of securities processing…its language is clear and its structure is excellent…Importantly, the author compliments this overview with useful worked examples and diagrammatic representations that add greatly to the readers understanding…" (GSCS Benchmarks, Vol.10, No.5)

From the Inside Flap

As the securities industry becomes increasingly automated, understanding of the start-to-end operational processes and the underlying reasons as to why the tasks are performed is likely to diminish. Yet, knowledge of the 'bigger picture' is essential for implementing efficiencies and benefits. In this book, Michael Simmons clarifies the operational process from start to finish, highlighting appropriate risk management strategies.

The book:
* Introduces the reasons for the existence of securities and describes the roles of the various participants within the industry
* Develops the reader's knowledge of the trade lifecycle and other operational activities in a logical sequence
* Describes real-life events to illustrate topics
* Conveys both the risks inherent in the various activities and the necessary controls to minimise such risks
* Provides descriptions of typical automation in today's operational processing environment
* Describes securities industry objectives and the initiatives being developed to achieve them.

See all Editorial Reviews

Product Details

• Hardcover: 486 pages
• Publisher: Wiley; 1 edition (April 15, 2002)
• Language: English
• ISBN-10: 0471497584
• ISBN-13: 978-0471497585
• Product Dimensions: 10 x 6.7 x 1.3 inches
• Shipping Weight: 2 pounds (View shipping rates and policies)
• Average Customer Review: 4.2 out of 5 stars  See all reviews (20 customer reviews)
• Amazon Best Sellers Rank: #315,855 in Books (See Top 100 in Books)

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Customer Reviews

Most Helpful Customer Reviews

17 of 17 people found the following review helpful:

5.0 out of 5 stars If your work in anyway touches the trade lifecycle - buy it., May 23, 2003

By A Customer

This review is from: Securities Operations: A Guide to Trade and Position Management (Hardcover)

I am just about finished the book and have found it to be an excellent guide, precise and well written. As an `IT Person' who has steadily moved closer to the business over the years and hence the need to understand how things `work' it has allowed me to consolidate and confirm my understanding of the key areas. Although I have a number of years experience, particularly from the custodian side, this has allowed me to fully appreciate the full process. The examples that run throughout the book that explains the concepts presented are superb and ensure a firm understanding of the subject area

7 of 7 people found the following review helpful:

5.0 out of 5 stars Relevant to newcomers and experienced people - globally, November 11, 2002

By 

Mark Mulholland (London, UK) - See all my reviews

This review is from: Securities Operations: A Guide to Trade and Position Management (Hardcover)

Years ago I attended an operations and settlement course developed and run by the author, Mike Simmons. It is still the best business course I have been on. On other occasions he has been vital in explaining business concepts to project teams I have been involved in, so we could fully understand the business requirements behind the software solutions. He has a natural talent in making what is often seen as complex and boring seem straightforward and interesting. Others tend to overcomplicate to either hide the fact they don't really know what they are explaining, or try to look 'clever', or fear what will happen if they pass the knowledge on. Simmons is clearly very keen for others to learn and understand and this book gives a wider audience a chance to take advantage of this. Securities Operations explains business concepts that can be applied to securities markets anywhere in the world - essential reading for newcomers to the industry and those seeking a deeper understanding of operational activities.

15 of 18 people found the following review helpful:

5.0 out of 5 stars Timely, relevant and Enjoyable, December 29, 2003

By 

An avid reader (Singapore) - See all my reviews

This review is from: Securities Operations: A Guide to Trade and Position Management (Hardcover)

As the author says in Page 414 "A major reason for writing this book is the need for IT personnel to attain adequate level of understanding.....". This book completely meets the objective. As a practicing IT professional, reading this book was a wonderful experience. It helps professionals like me to gain useful domain knowledge. I hope we have more books like this one, covering other industry sectors.