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Global Securities Operations

Module description

This module is intended for Financial Services Professional Degree Apprenticeship students who would like a background to securities investment in financial institutions. This module shows how the understanding of securities operations can be provided to support an organisation’s management in investment decision-making and control, leading management to raise the amount of capital that it needs which are appealing to the investor community and offer instruments that are appropriate for the investor’s investment objectives and financial circumstances.

Module aims - intentions of the module

This module aims to provide students with a broad understanding of the range of options available to raise funds in a company’s business operations.

This module outlines the process through which an investor allocates their pool of investment money across different asset classes. Students should be able to recognise that the fundamental goal from an investor’s standpoint is to optimise the level of return generated from its investments at an acceptable level of risk. The characteristics of ordinary shares, fixed-income instruments, warrants and covered warrants, depository receipts, exchange-trade products and other collective investment vehicles will be discussed. Students should also be able to examine the mechanisms through which assets are bought and sold and held in safekeeping, and how legal title to the security is registered and transferred between owners.

The overall aim of this module is to increase student’s awareness of the design of increasingly sophisticated types of financial instruments that offer an attractive return at a level of risk that the investor is prepared to bear, considering the aspects of taxation and risk mitigation. Students should recognise that the risk and return balance is integral to the investment process.

Intended Learning Outcomes (ILOs)

ILO: Module-specific skills

On successfully completing the module you will be able to...

• 1. Describe the characteristics of different securities available to raise funds
• 2. Identify the characteristics of main industry participants
• 3. Illustrate the role of the financial institutions in the settlement process
• 4. Appraise the main reasons and risks associated with failed settlement
• 5. Recognise the importance and use of cash management and the reasons for securities lending
• 6. Identify the tax treatment of securities from different aspects
• 7. Identify the major categories of risk and analyse the factors that should be taken into account when conducting risk reviews
• 8. Explain the risks associated with a failure to comply with regulation

ILO: Discipline-specific skills

On successfully completing the module you will be able to...

• 9. Critically discuss the importance of receiving timely and accurate corporate action and the risks involved
• 10. Evaluate the factors that should be taken into account when conducting risk reviews of market infrastructures, sub-custodian networks and outsourced functions
• 11. Keep up to date with sector relevant legal/regulatory changes

ILO: Personal and key skills

On successfully completing the module you will be able to...

• 12. Discuss relevant financial service products and services
• 13. Contribute to the development of strategic plans for their investment area

Syllabus plan

• Securities Investment
• Main Industry Participants
• Settlement Characteristics
• Other Investor Services
• Aspects of Taxation
• Regulation and Risk

Learning activities and teaching methods (given in hours of study time)

Details of learning activities and teaching methods

Formative assessment

Summative assessment (% of credit)

Details of summative assessment

Details of re-assessment (where required by referral or deferral)

Re-assessment notes

Deferral – if you have been deferred for any assessment you will be expected to submit the relevant assessment. The mark given for a re-assessment taken as a result of deferral will not be capped and will be treated as it would be if it were your first attempt at the assessment.

Referral – if you have failed the module overall (i.e. a final overall module mark of less than 40%) you will be expected to submit the relevant assessment. The mark given for a re-assessment taken as a result of referral will be capped at 40%

Indicative learning resources - Basic reading

• Global Securities Operations (Investment Operations Programme) Workbook Edition 14, Chartered Institute for Securities and Investment.

Indicative learning resources - Web based and electronic resources

• Journal of securities operations and custody
• The journal of financial research

Key words search

Securities Operations