Phone: 212-851-8414
Fax: 212-851-8405

Brokerage Operations

Method: Instructor-led training

Time:  8:30 am – 5:00 pm
Instructor: Laura Smith Dunaief
Fee: Call for details (212) 851-8414 or email This e-mail address is being protected from spambots. You need JavaScript enabled to view it

Download Course Agenda

This Brokerage Operations course provides an understanding of the middle and back-office operations of broker-dealers, including regulatory requirements for opening and handling accounts, processing trades and settlements, and maintaining account-related books and records. The course focuses on providing an end-to-end overview of the processes and systems for ensuring client and firm protection, including trade processing requirements for equities, fixed income securities, and options transactions and industry initiatives intended to streamline them.

Learning objectives:

  • Gain historical perspective on brokerage operations and key drivers of industry changes.
  • Review rules and best practices for opening client accounts and an overview of client account types, including cash, margin, short and option accounts.
  • Learn regulations for handling retail vs. institutional accounts.
  • Discuss security types and trading facilities, including equities, fixed income securities, and derivatives.
  • Understand OTC vs. exchange markets – order types and execution methods.
  • Analyze trade matching facilities, including OATS, RTTM, RTRS, and TRACE.
  • Review trade confirmation requirements of Rule 10b-10, trade settlement requirements and process overview.
  • Discuss roles of clearing firms, including DTCC and OCC.

Who should attend:

  • Middle and back office Operations staff of broker-dealers and clearing firms, technology staff, internal auditors and those new to the securities industry.

Brokerage Operations - Course Agenda

8:30am – 9:00am

Registration and Continental Breakfast

9:00am – 10:00am

History and drivers of industry changes

  • Overview of Operational processes – retail account scenario
  • Risk management challenges in financial services
  • Role(s) of Operations in protecting clients and firms
  • Example initiatives to reduce risk: CNS; STP; T+1; TRACE; and FIX

10:00am – 10:15am

Break

10:15am – 12:00pm

Client Accounts

  • Account types and risk controls
  • Best practices for opening client accounts

Institutional vs. Retail Accounts: Regulatory focuses

  • Account opening and monitoring best practices
  • Trading restrictions
  • Margin accounts
  • Product types

12:00pm – 12:45pm

Lunch

12:45pm – 2:45pm

Security Types and Trading Facilities

  • Equities
  • Fixed Income
  • Derivatives

OTC vs. Exchange Markets

  • Order types
  • Execution methodologies

2:45pm – 3:00pm

Break

3:00pm – 5:00pm

OTC vs. Exchange Markets (continued)

  • Trade reporting and matching: OATS; RTTM; RTRS; TRACE; ACT
  • Rule 10b-10 trade confirmation requirements
  • Trade settlement requirements
  • Trade settlement process

Clearing Firm Roles and Initiatives

  • DTCC
    • OMGEO
    • STP
    • “Paperless” initiatives
  • OCC

Future Initiatives

 

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Programs

Programs consist of access to private online groups. In-person classroom training features presentations, real-life case studies, exercises, and lively discussions.

Volume Discounts

Receive a 10% discount when three or more employees register for the same course at the same time. Groups of ten or more receive a 15% discount.

Upcoming Courses

There are no upcoming events.

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