Equity Trade Lifecycle

Price: $995   Register now

Recommended that you register at least two weeks in advance.

Course Features

  • Course date:02/28/2020
  • Course Duration: 1 Day
  • Level: Beginner-intermediate
  • Prerequisites: None
  • Method: Live & Virtual
  • Venue: MicroTek
  • Time: 9:00 am – 5:00 pm
  • Dress Code: Business Casual

Equity Trade Lifecycle

Explore the front-to-back sequence of events that occur before, during, and after an equity trade is made, and its enterprise-wide financial impact.  Discover what occurs behind the scenes from order entry and trade execution through the final exchange of assets trade clearance and settlement.  The program content probes the strategic interaction of many teams throughout buy-side and sell-side firms, including business units, sales and trading, wealth management, confirmations, customer service, middle office, trade support, finance, risk management, and legal and compliance.

Explore how the equity trade lifecycle creates market, credit and operational risk and the industry infrastructure promote safety and soundness for market participants and their clients with sound risk mitigation techniques.  Investigate mission-critical trade lifecycle functions such as pre-trade KYC (Know Your Customer) account set-up, investment and trading decision making, trade routing, trade execution, trade allocations, and confirmations, clearance, settlement, reconciliations, and fail prevention and management.  Real-life “war stories” illustrate what can go wrong and become learning opportunities for prevention in the future.

Learning outcomes for participants include understanding current industry best practices and trends in managing the equity lifecycle of a trade to provide top-shelf customer service, manage risks, and control costs.


Section 1:   The Inception of a Trade: Pre-trade Activity, Order and Trade Management

  • Overview of equity products
  • Define the landscape of trading venues for equities including electronic trading platforms and DMA (Direct Market Access) agreements
  • Indications of interest, order entry and routing, trade execution and reconciliations
  • The interaction between sales and trading desks and counterparties
  • The mission-critical role of Technology in providing OMS (Order Management Systems) and EMS (Execution Management Systems) and FIX connectivity


Section II:  Trade Capture, Enrichment, and Confirmation

  • Validation of trade economic details and attributions to trading desks and legal entities
  • Sources of pricing information for mark-to-market and position valuations
  • Trade adjustments, amendments, modifications, and cancel/corrects: reasons, pitfalls, and controls
  • The importance of trade confirmation/affirmation and customer allocations
  • Confirmation/Affirmation services available: Omgeo (OASYS, CTM), TradeWeb, SWIFT, etc.


Section III:  Equity Trade Clearance and Collateral Management

  • Counterparty credit risk management and mitigation, and the role of a clearinghouse in the equity markets
  • Define the function of collateral management and optimization
  • Impact of novation, netting and trade compression
  • Examples of CCP (Central Counter Party) provided by the DTCC’s NSCC and others in the global equity markets
  • Calculation of settlement date obligations between counterparties.
  • CNS and multilateral netting; cash and securities impact


Section IV:  Settlement and Reconciliation

  • The details of how equity trades settle with the exchange of cash and securities
  • Accounting to reflect the exchange of assets, both cash, and securities, as the final stage of the trade lifecycle
  • How firm and customer equity securities are held in custody systems
  • The impact of settlement schedules on cash flows
  • Financial data provided by Centralized Securities Depositories and their settlement systems: DTC, Euroclear, etc.
  • When settlement does not occur as the completion of the deal, how fails represent a source of cost and risk to the firm
  • Costs and risk associated with fails: capital charges, haircuts, penalties, fees, and buy-ins
  • Daily and periodic reconciliations


  • Charlotte is a broadly accomplished financial services executive with over 25 years of comprehensive experience in delivering innovative and cost-effective operations and technology training solutions for equities, derivatives and fixed income product lines.  Her successful career as a senior-level manager in Operations at Credit Suisse, Paine Webber and Bankers Trust furnishes the industry expertise that …
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