MBS Trade Lifecycle
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| Duration: One Day |
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Examine the diverse process associated with Mortgage Backed (MBS) and Asset Backed (ABS) securities. Become familiar with To Be Announced and specified trading, Electronic Pool Notification (EPN), the impact of factor tables, comparison, settlement, financing and servicing functions. Delve into the role of the Bond Market Association, Fedwire, Fixed Income Clearing Corporation (FICC) and the Depository Trust Company (DTC).
| Topics include: |
• Financing and inventory control
• Income collection and allocation: monthly principal and interest processing
• Macro view of the transaction lifecycle
• MBS allocation |
• Secondary markets: participants and trading environments
• Settlement and fail control
• Trade processing activities |
| Benefits of attendance: |
• Apply associated terminology
• Comprehend use of financing tools
• Examine the role of clearing banks |
• Focus on TBA trading practices
• Learn about the industry infrastructure
• Understand settlement processes |
| Staff from the following areas should attend: |
• Information Technology
• Internal Audit
• Middle Office |
• Operations
• Regulatory Reporting
• Risk Management |
Basics of the Securities Industry program and knowledge of MBS, ABS products or equivalent experience preferred |
