After the Trade: Dealer and Clearing Bank Operations in Money Market and Government Securites

by Marcia Stigum

Genres: Economics

200 pages, Hardcover

First published January 1, 1988

Reviews

[Pedro Almeida Jorge · Rating 4 out of 5]

Yes, it's 30 years old in a subject that's been moving at light speed. However, Stigum brilliantly manages to introduce many of the main challenges faced by professionals in the clearing industry, as well as by dealers, brokers and investors. It will also talk about custodians and agent banks, besides some new (at that time) developments concerning multilateral, multi-issue netting.

This was my first book on the subject and now I feel I have gained a basic knowledge of the problems involved, as well as a simple understanding of the main concepts. However, there's still much to be learned, specially with respect to the updates and developments that financial markets went through during these last three decades.

The book took me a long time to read. However, the language is not difficult at all. Furthermore, the author adds many insights from the practitioners themselves. You get the idea that the woman who wrote this book really knows what she's talking about.

It won't change your life, and probably there's some book out there that does the same job in a more updated fashion. However, this handbook is not to be underestimated.