Clearing, Settlement and Custody

Clearing, Settlement and Custody, 3rd Edition, by David Loader, explains post-trade market infrastructure in an accessible, non-technical manner. The book traces the path of market transactions from securities trading through the settlement of cash and paper.

The text outlines the roles of central market entities, including clearing houses, central counterparties, central securities depositories, and custodians. It also examines how post-trade activities affect workflow and procedures across operations functions in banks, brokerages, and financial institutions.

Designed for upper-division undergraduate and graduate students in business and finance as well as industry professionals, the volume includes case studies, end-of-chapter questions, and illustrative examples.