Securities Lending and Borrowing

ICMA Executive Education

Training

In London

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£ 1,000 VAT exempt

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Description

  • Type

    Training

  • Location

    London

  • Duration

    2 Days

The Securities Lending and Borrowing course introduces the main types of securities financing, reviews the mechanics of securities lending and how different players are motivated in the market. Equally relevant to both the buy-side and sell-side of the business, it discusses the choices of finding a route to market and the issues surrounding collateral management. In addition to looking at the alternatives to securities lending, the main operational aspects are also covered in this two day course. Suitable for: This course is suitable for practitioners who have a good fundamental level of knowledge of operations, and who are looking to develop their understanding in SLB to an advanced level. It will be particularly relevant to operations, compliance and IT staff whether working in a fund manager, investment bank or any large financial institution active in the securities markets. This course is also important for legal staff and regulators that require a detailed knowledge of SLB.

Facilities

Location

Start date

London (Avon)
See map
60 Chiswell Street, EC1Y 4SA

Start date

On request

About this course

No pre-requisites

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Reviews

Teachers and trainers (1)

Keith Dickinson

Keith Dickinson

Course Trainer

Keith Dickinson is a Visiting Fellow and Programme Director for ICMA Executive Education's Operations Certificate Programme (OCP) and an independent training and business consultant. Keith spent twenty years in the operations areas of the equities, fixed income and derivatives markets for securities houses and financial institutions in London followed by sixteen years preparing and delivering operational courses.

Course programme

Session 1Contents

Introductory Session

• Review of the main types of securities financing:

o Securities Lending

o Repurchase Agreements

o Sell/Buy-Back

• Lender & Borrower Motivations

Session 2Contents

Mechanics of Securities Lending

• Life cycle of a loan

• Financial risks & risk management

• Collateral & collateral management

Session 3Contents Finding a Route to Market• Organisation & portfolio characteristics

• Route to market - the choices

• Counterpart selection

• Securities lending agreements

Session 4Contents Collateral• Margins & haircuts

• Types of collateral

o Cash collateral

o Non-cash collateral

• Collateral management issues

Session 5Contents Operational Aspects of Securities Lending• Loan Initiation

• Loan in Progress

• Loan Closing

Session 6Contents Impact on other Operational Areas• Settlements

• Corporate Actions

• Income

• Accounting

Session 7Contents Operational Aspects of Repurchase Agreements• Transaction structures

• Delivery, netting & clearing

• Tri-party repo

Session 8Contents

Alternatives to Securities Lending

• Equity swaps

• Equity Repo

• Contracts for Differences

• Single Stock Futures

See related categories

Securities Lending and Borrowing

£ 1,000 VAT exempt

The best Banking and Financial Services courses

See all

See all