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After the Trade Is Made: Processing Securities Transactions by David M. Weiss

After the Trade Is Made: Processing Securities Transactions David M. Weiss ebook
Publisher: Portfolio Hardcover
Format: pdf
ISBN: 1591841275, 9781591841272
Page: 411

This 90-second reporting requirement has been in effect since 1982, when OTC trading was primarily a manual process. Weiss Hardcover: 512 pages Publisher: Prentice Hall. Today, OTC trading is highly automated and most transactions are reported in well under 90 seconds. After.the.Trade.Is.Made.Processing.Securities.Transactions..pdf. Book Name: After the Trade is Made: Processing Securities Transactions, Second Edition Author: David M. €�The movement to T+2 is definitely bringing traction as people realize they have one less day to settle a trade, and therefore need to match the trade as early as possible in the process,” said Paul Taylor, director of global matching at financial messaging network Swift. Indeed, FINRA Recognizing that members will require sufficient time to make necessary system changes, FINRA is proposing to delay the effective date of the new reporting requirements for six to nine months after SEC approval. For stocks, the settlement period is three days (T+3) after the transaction. After the Trade Is Made: Processing Securities Transactions. Net down more than 90 percent of the MBS trades it processes, but in its role as a CCP for these trades it will introduce not only a trade guaranty but an additional netting process—pool netting—that will further streamline settlement on the related delivery obligations. This means that the buyer must transfer cash to the seller, and the seller must transfer ownership of the stock to the buyer within three days after the trade was made. It will guarantee settlement of all matched MBS trades, a crucial step for the securities industry where the settlement of an MBS trade often does not take place until months after the trade itself was made. The solutions proposed in its report, entitled 'Second Advice', are expected to lead to an improved and harmonised legal framework for holding and settlement of securities through intermediaries and for the processing of corporate actions. Furthermore Internal Market and Services Commissioner Charlie McCreevy said: "Legal barriers make it much more complex to hold securities cross-border, and lead to higher costs for transactions and credit. €�If you don't match a Beginning in 2015, securities transactions in European Union regulated markets will have to settle no later than the second business day after trading takes place.