By David M. Weiss

The absolutely up-to-date vintage consultant to the mechanics of securities processing—a needs to for expert traders This 3rd version of After the exchange Is Made displays the adjustments that experience taken position in fresh years due to new items, technological breakthroughs, and the globalization of the securities undefined. finished and straightforward to appreciate, it offers agents, operations group of workers, and person traders with definitive and up to date motives of every step within the buying and selling process—from the instant a client comes to a decision to shop for or promote a safety during the ultimate requisites of checklist conserving. Written for either securities execs and person traders, even if household or in different international locations, this re-creation in actual fact explains the middle of underwritings, new and verified buying and selling markets, transaction processing, margin, and more—while offering severe insights into the main fresh wave of alterations. David M. Weiss, a veteran securities expert, lines the whole strategy of procuring or promoting a safety, from order administration to transaction processing to the ultimate posting at the firm’s books and files. He covers the really good attributes of every functionality in a standard brokerage company, as good as their relationships with advertisement banks, move brokers, clearing organizations, and depositories. After the alternate Is Made is the definitive source for someone desirous to comprehend and hopefully navigate the colossal and infrequently wonderful global of securities.

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Extra resources for After the Trade Is Made: Processing Securities Transactions

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Some investments in common stock may be considered safe or conservative, while others are very risky or speculative. Some stocks are purchased for their history of dividend payments, while others may be purchased for their growth potential. Some investors are looking toward long-term goals; others are interested in short-term situations. Whatever the investment goal, the investor usually finds something suitable in the common stock arena. II-A-2 Preferred Stock Like common stock, preferred stock represents ownership in the corporation.

They will use this product to enhance their investment performance. As the interest rates fall and investors must replace short-term instruments that mature with new short-term instruments that pay less interest (thereby lowering their average return), the reversible preferred will be paying a higher dividend rate, thereby augmenting the return. II-A-2-b-viii Putable Preferred Putable preferred stock usually has a special feature included with the adjustable-rate type of preferred: it permits the shareowners to “put” the shares back to the issuer and receive a predetermined price.

II-A-3-d Warrants Initially warrants are attached to another security at issuance. The two together are known as a unit. The warrant entitles the holder to acquire common stock or some other instrument at a set price during a specified period of time. The acquisition price initially set in the warrant is higher than the current market value of the common stock. Warrants are longer-term issues than rights. They generally come to the marketplace as part of a unit, which is comprised of two or more issues.

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