How The U.S. Securities Industry Works, Second Edition [Hardcover]

Hal McIntyre (Author)

Book Description

Publication Date: October 2004

How the US Securities Industry Works is the only book that describes the complete securities processing environment in the United States. It starts with the pre-trade activities that are conducted by individual and institutional investors and follows the progress of the different types of trades to the post settlement activities that are required to service each position in the portfolio.

With a forward written by William F. Jaenike, former CEO of The Depository Trust Company, the book also describes how securities are created and the different types of securities that are used throughout the US today, including equities, fixed income and derivatives. The author discusses the various participants in the industry, from the traditional banks, brokers and investment managers to the industry utilities, regulators, associations and vendors that make efficient trade processing possible in the US.

Other books on securities processing have focused on a single segment of the industry, such as brokers or banks. This book recognizes that the securities industry involves a series of complex interdependencies, and describes the relationships between the participants in a clear and easy to read style. Numerous drawings and graphics enhance the narrative and make this a must read for any serious securities processing professional.

Editorial Reviews

About the Author

Hal has over 30 years of management experience, including 16 years at Citibank. He founded The Summit Group in 1991. Prior to establishing The Summit Group, Hal managed numerous banking and securities functions for Citibank, including marketing, operations, and technology. During his last four years at Citibank, he managed a systems division of over 300 people who supported Citibank's worldwide securities processing applications.

While at Citibank, he worked for four years in Zurich as the head of Operations and Technology for Citibank's Swiss Investment and Private Banks, and was the Chief Administrative Officer for Citicorp Investment Bank. Hal is a Managing Partner of The Summit Group, which, with over fifty employees, is active in consulting to major banks, brokers, investment managers, and other financial institutions, and provides comprehensive services in Management Consulting, Market Research, and Systems Integration.

Product Details

• Hardcover: 697 pages
• Publisher: The Summit Group Press; 2nd edition (October 2004)
• ISBN-10: 0966917863
• ISBN-13: 978-0966917864
• Product Dimensions: 9.1 x 6.1 x 1.8 inches
• Shipping Weight: 2.4 pounds
• Average Customer Review: 4.8 out of 5 stars  See all reviews (4 customer reviews)
• Amazon Best Sellers Rank: #2,462,498 in Books (See Top 100 in Books)

Customer Reviews

Most Helpful Customer Reviews

10 of 11 people found the following review helpful:

5.0 out of 5 stars Good resource on the job, July 9, 2003

By A Customer

This review is from: How The U.S. Securities Industry Works (Hardcover)

I have been using this book on the job in an IT shop
for a large US brokerage house. I have found it an
excellent resource. Very clear and accurate descriptions
of every aspect of the US securities business.

9 of 10 people found the following review helpful:

4.0 out of 5 stars Good Content - Poorly Edited, July 19, 2006

By 

Steve Fast (Hillsboro, KS, USA) - See all my reviews
(REAL NAME)   

Amazon Verified Purchase

This review is from: How The U.S. Securities Industry Works, Second Edition (Hardcover)

The book contains a nuts and bolts review of all the elements of the US securities industry. It's a good tool to learn how every part of the system operates, who the key players are (or at least were when the book was written), how the technology works, etc. It's put together in outline format, so it doesn't contain much of a logical development--it's a handbook instead.

My one frustration is the sloppy editing. The book was clearly pasted together from many sources, a lot of which were the companies, agencies, and organizations themselves. Sometimes the text is written in first person, as if copied directly from the e-mail answer from a company. Similar information is repeated from section to section because two respondents from different companies gave similar responses. Finally, there are a number of typos and even pages that are repeated.

Overall--good content, but both the editor and the proofreader must have been asleep at the wheel.

10 of 13 people found the following review helpful:

5.0 out of 5 stars Clear and informative, November 26, 2001

By 

"reader558822" (Scarsdale, NY USA) - See all my reviews

This review is from: How The U.S. Securities Industry Works (Hardcover)

I found 'How the US Securities Industry Works' to be an excellent review of the entire securities industry. It explained the industry with more depth and clarity than other books I have read on the same subject. I also found the author's 'Securities Operations Glossary' to be useful.