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Title: GLOBAL SECURITIES PROCESSG: MARKETS PRODCTS by David M. Weiss ISBN: 0-13-323965-9 Publisher: Prentice Hall Art Pub. Date: 01 August, 1997 Format: Hardcover Volumes: 1 List Price(USD): $75.00 |
Average Customer Rating: 3 (1 review)
Rating: 3
Summary: Back-shop 101
Comment: "Portions of this book were previously published as, "After the Trade is Made"", quoted from the title page. A significant understatement. In fact 75% of the material is a direct word-for-word copy from the mentioned title. The result is an easily read book with fundamental information about the securities industry and the relationships between the customer, brokerages, and stock exchanges. It could be called "back-shop 101" and was probably written as a college freshman introduction to the securities/financial industry. Many of the typographical errors from the first book are corrected, however some new ones are introduced. Many of the examples shown are of poor print quality making them hard to read and interpret.
Part I, "The Multifaceted Securities Industry", and Part II, "Types of Securities", offer definitions of terms and financial instruments used in the securities industry. These chapters may be skipped by one familiar with the industry. Selected topics can then be reviewed chapter by chapter as needed. "Municipal Bonds and Notes" (Chapter 10) is a very good explanation of bond yields and prices. "Commercial Paper" (Chapter 13) describes the physical handling of the paper. "Mutual Funds" (Chapter 16) offers a very poor and superficial explanation. "Swaps" (Chapter 19) is a discussion of 'off-balance-sheet' items.
Part III, "Operations Procedures", describes how things are processed and includes a high level flow diagram. The chapters in this section are combined chapters from Parts II and IV of "After the Trade is Made". This makes for a clearer understanding of the material. Chapter 21, "Brokerage Operations", is a complete rewrite of the corresponding chapter and as such is more informative and more inclusive of current EDP operations. Chapter 30, "Name and Address", should be titled, "New Accounts", as it describes a larger functional process. A new chapter, "Security Data Base", has been added containing codes and information about individual securities. It should have been folded into Chapter 21 or Chapter 33, "Electronic Data Processing", instead of being a stand-alone chapter.
Part IV, "Compliance, Technology, and Financing", makes no mention of the audit function, in fact "audit/auditor/auditing" is not even included in the index. Chapter 32, "Compliance", and Chapter 33, "Electronic Data Processing", describe functions, and as such should have been included in Part III, "Operations Procedures". Chapter 33 has been rewritten to reflect current EDP practices. The balance of this section returns to the basic, definitional style of the early sections in the book, and are copied directly from "After the Trade is Made".
Part V, "Foreign Markets", is definitional. The chapters in this section are new or rewritten from the previous edition. They contain very spotty, inconsistent information about various foreign exchanges and their unique practices. It would have helped the descriptions to include the number of issues registered for exchange and some average volume figures. Following these chapters is a very extensive glossary.
In conclusion, Chapter 21, "Brokerage Operations", Chapter 33, " Electronic Data Processing", and Chapter 31, "Security Data Base", contain the important information in the book. The balance of the book is good information about the industry. A good text for basic information, but no substitute for first-hand analysis of the business processes.
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Title: Securities Operations: A Guide to Trade and Position Management by Michael Simmons ISBN: 0471497584 Publisher: John Wiley & Sons Pub. Date: 15 April, 2002 List Price(USD): $75.00 |
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Title: Clearing, Settlement and Custody (Operations Management Series (Securities Institute).) by David Loader ISBN: 0750654848 Publisher: Butterworth-Heinemann Pub. Date: 24 September, 2002 List Price(USD): $43.99 |
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Title: Controls, Procedures and Risk (Operations Management Series (Securities Institute).) by David Loader ISBN: 0750654864 Publisher: Butterworth-Heinemann Pub. Date: 15 October, 2002 List Price(USD): $40.00 |
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Title: After the Trade Is Made: Processing Securities Transactions by David M. Weiss ISBN: 0131776010 Publisher: Prentice Hall Art Pub. Date: 26 October, 1993 List Price(USD): $50.00 |
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Title: Trading and Exchanges: Market Microstructure for Practitioners by Larry Harris ISBN: 0195144708 Publisher: Oxford University Press Pub. Date: 01 October, 2002 List Price(USD): $95.00 |
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