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Depository Trust & Clearing Corporation. Managing Paper for The Financial Services Industry. Subsidiaries. Settlement of Broker-to-Broker Trade. Brokers are given instructions to buy or sell on behalf of their client Trade is made on an exchange or Marketplace (Day T)

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Depository Trust & Clearing Corporation

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Depository trust clearing corporation

Depository Trust & Clearing Corporation

Managing Paper for The Financial Services Industry

Jay Baum

Lars Petersson


Subsidiaries

Subsidiaries

Jay Baum

Lars Petersson


Settlement of broker to broker trade

Settlement of Broker-to-Broker Trade

  • Brokers are given instructions to buy or sell on behalf of their client

  • Trade is made on an exchange or Marketplace (Day T)

  • Details of the trade are sent to the NSCC

  • NSCC processes and records the trade. Details and contracts are sent to the brokers with figure for net money settlement

  • DTC is instructed to move securities from Selling broker’s account to Buying broker’s account (T+3)

Buying Broker

Selling Broker

1

1

Marketplace 2

3

4

4

NSCC 4

5

DTC

Jay Baum

Lars Petersson


Operations risk management unit orm

Operations Risk Management Unit (ORM)

  • Risk and Control Self-Assessment

    • common framework

    • common language

  • Database of “Risk Events”

    • actual losses

    • near misses

    • opportunity costs

  • Key Risk Indicators Established

  • Reporting and Review Schedule

Jay Baum

Lars Petersson


Risk universe

People & Culture

Key Person

Internal Theft

Fraud

Execution, Delivery & Process Management

Data Input

Customer Service

Financial Controls

Financial Reporting

Legal/Regulatory

Information Management

Technology

Interface

Network Failure

Software Corruption

Business Continuity

Communication

Alternate sites

Data access

External

Corporate Espionage

Third Party Risk

“Risk Universe”

Jay Baum

Lars Petersson


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