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Thomas Murray’s Securities Market Profiles are a key component of its Market Information Guides. They are an online reference guide to the local market rules for the trading, clearing, and settlement of securities globally. Guides on over 100 markets are available and updated daily.
At the heart of the guide to every market is a measure of local compliance with the nine recommendations of the Group of Thirty (G30) report of March 1989, as subsequently amended in a second report of 1995. Those recommendations called for:
- Trade matching on trade date (T+0)
- Affirmation of trades to investors by T+1
- A CSD in every market covering as many instruments as possible
- Real-time gross settlement or settlement netting
- Delivery versus Payment (DvP), defined as simultaneous, final, irrevocable and immediately available exchange of securities and cash on a continuous basis throughout the day
- Payment in same-day funds
- rolling settlement no later than T+3
- Securities lending and borrowing to expedite settlement
- Adoption of the electronic message standards and securities numbering conventions (ISIN codes) of the International Organization of Standardization (ISO Standard 7775)
Though widely believed to have been implemented in all major markets, there remain considerable local nuances in compliance with the G30 recommendations. A Thomas Murray securities market profile understands those nuances. It also describes:
- The principal stock market
- Any other markets where securities are traded
- How transactions settle
- How payment is made
- How stock is transferred
- How changes of ownership are registered
- How corporate actions are notified and instructions issued and implemented
- How shareholders can vote their stock by proxy
- How dividends, interest payments and other entitlements can be collected
- What taxes are levied on income and capital gains from securities, and which of them can be reclaimed, and how
- How cash is managed
- Whether stock lending is permitted, and how it works where it is
- How the repo market operates, if there is one
- What fees, commissions and other charges are levied by market intermediaries
- Which organisations regulate the securities markets
- Details of any restrictions on entry to the market, or to ownership of particular asset classes
- When banks and exchanges are on holiday
- A look ahead to any meaningful changes that are in hand or being planned
Every report also includes diagrams showing exactly how a trade is settled in a market. Daily newsflashes are included in the price of a subscription. If you are interested in seeing sample newsflashes, read the archive of past updates or sign up to receive our monthly Newsletters.
Thomas Murray’s Securities Market Profiles and related newsflashes are frequently White Labelled (rebranded) and passed on to investor clients by banks using the MarketsSelect information distribution system.
If you would like to purchase this service, or find out more about it, please contact:
Derek Duggan at dduggan@thomasmurray.com or telephone him on +44 (0) 20 8600 2300
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A free trial of Thomas Murray’s Market Information Guides enables access to the full suite of Thomas Murray Ratings & Information products for 2 markets:
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