Investment banking involves a wide range of activities like advising and helping clients in raising, managing and retiring capital, advising them on acquisitions, mergers, restructuring and divestitures, trading strategies, risk management, etc., among others. Their activities have been in the news almost regularly, for the wrong reasons. The filing of the bankruptcy petition by Lehman Brothers in September 2008 and the official inquiries and investigations that followed have opened the practices of investment banking to public scrutiny, as never before.
This book – the second in the series of three books on Investment Banking – deals with operation of stock exchanges, clearing corporations and related services. The book presents the concepts, practices, operation, regulations and supervision of :
stock exchanges;
clearing corporations;
stock brokers;
securities research analysts;
securities lending;
commodity derivatives trading;
portfolio management; and
custody management.
Charts have been used to explain various concepts like netting, multilateral netting by novation, trading by members, institutional and retail trade settlement, to facilitate better understanding of the concepts. The book has been written in an easy-to-understand style with charts, tables, international and national case studies interspersed to illustrate the concepts, so that the students/readers understand them in the context of real world. This book is designed to meet the requirements of postgraduate students of management and other capital market-oriented courses. Researchers, consultants, practicing investment bankers, CAs, CMAs and CSs engaged in investment banking activities will also find it a good body of knowledge as a reference source.
Contents –
1. Stock Exchange
2. Clearing Corporation
3. Stock Broking
4. Securities Research Analyst
5. Securities Lending
6. Commodity Derivatives Trading
7. Portfolio Management
8. Custody Management
