Contents
Preface vii
Chapter 1 The structure of clearing and settlement 1
Chapter 2 The role of the clearing house and central
securities depositories 19
Chapter 3 Bond settlement 25
Chapter 4 Equity clearing and settlement 53
Chapter 5 Derivatives clearing and settlement 67
Chapter 6 Custody services 127
Chapter 7 Other clearing and settlement 165
Chapter 8 Operational issues and the future 173
Appendix 1 Relevant websites 179
Appendix 2 Understanding London SPAN 181
Glossary 193
Index 227