About the author.
1 OPERATIONS MANAGEMENT.
Foreign exchange and money markets.
Retail and other products.
Market and product knowledge.
Market structure and membership.
Structure and characteristics of the products.
Clearing mechanisms, membership and the clearing house role.
Structure of securities clearing and settlement conventions.
Regulation, accounting and tax issues.
Policy, procedures and controls.
3 BANKING, BROKING AND INSTITUTIONAL CLIENTS.
What are the issues for the operations managers in these scenarios?
4 CONCEPTS OF RISK.
Counterparty and agent risk.
5 CLEARING AND SETTLEMENT.
Fixed rate bonds.
Floating rate notes.
The role of the clearing house.
The concept of margining, collateral and treasury management.
Settlement of OTC products.
Other settlement issues.
Accounting and regulatory issues.
Suggested further reading.
8 REGULATION AND COMPLIANCE.
Basel II, Sarbanes–Oxley and UCITS Directive.
9 CLIENT SERVICES.
The approach to customer relationships and the ‘client culture’.
Structure of client services within the operations team.
Client liaison programmes.
Front-office client team.
Analysing the competition.
Developing the service.
What are the potential problems in customer relationships?
Managing risk within the customer relationship.
10 OPERATIONS IN THE FUTURE.
A UCITS III: INTRODUCTION.
B EXTRACTS FROM SARBANES–OXLEY ACT OF 2002.
C THE G30 TWENTY RECOMMENDATIONS.
D SOUND PRACTICES FOR THE MANAGEMENT AND SUPERVISION OF OPERATIONAL RISK (February 2003).
Useful websites and selected further reading.