This one day class tracks a fixed income trade from the point that an investor sends an order to their broker through execution, pre-settlement, settlement, asset servicing and regulatory compliance. The class opens with a review of significant events in the fixed income marketplace. This is followed by an overview of fixed income products and the participants in the fixed income arena.

At the end of this interactive class, participants will have a keen understanding of the processes, functions and activities in the Fixed Income Trade Lifecycle.  During various points throughout the day there will be a discussion of some of the evolving trends in fixed income markets and trade processing activities led by the instructor.

v  Significant Events in the US Fixed income Market

v  Fixed income Products

     ·         US Government

     ·         Municipal

     ·         Corporate

     ·         MBS

     ·         CMO

     ·         ABS

v  Participants

     ·         Buy-side

     ·         Sell-side

     ·         Industry Utilities

     ·         Industry Service Organizations

v  Markets

     ·         Marketplaces

     ·         Electronic

     ·         Telephone

     ·         Inter-dealer Brokers

v  Order Processing/Execution

     ·         Order Receipt

     ·         Routing

v  Middle Office

     ·         Trade Entry

     ·         Trade Reporting

     ·         Inventory management      

     ·         Confirmation/Affirmation

v  Comparison

     ·         Real Time Trade Matching

     ·         Industry Utility

     ·         Process

v  Clearance

     ·         Trade Guarantee

     ·         Central Counterparty

     ·         Novation

     ·         Industry Utility

v  Settlement

     ·         Environments

     ·         Exchange of Value

     ·         Federal Reserve/Clearing Banks

     ·         Depository Trust Company

v  Fail Control/Financing

     ·         Fails

     ·         Financing

     ·         Securities Borrow/Loan

v  Inventory Control

     ·         Depository Trust Company

     ·         Federal Reserve/Clearing Banks

     ·         Physical securities

v  Stock Record

     ·         Books & Records

v  Income Collection & Distribution

     ·         Interest

     ·         Principal repayments

v  Corporate Action Processing

     ·         Type of event

     ·         Event processes

v  Trends

     ·         Fixed Income Trading – on an exchange?

     ·         The impact of credit rating agencies optimism