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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

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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