By Gail Rolland
"No longer are the capital markets pushed by means of the massive funding homes and fund managers. in its place, deepest banks, assurance homes, hedge cash, sovereign wealth cash and various boutique funding managers, neighborhood associations and agents all function and engage to shape the bedrock of the worldwide capital markets, and all practitioners have to comprehend the linkages, goals and capabilities of these associations to appreciate how the markets fairly paintings. How the Markets paintings offers an entire roadmap to the associations and intermediaries working in modern day international monetary panorama. The publication has arisen out of the authors 25+ years operating and coaching within the capital markets. whereas there's a great amount of literature devoted to monetary industry items and the way the marketplace works, few, if any examine the associations themselves. This ebook will examine the entire associations working this present day, illustrating what they're, how they paintings, how they have interaction and importantly, their motivation. it's going to clarify the middle monetary industry company of those associations, and think about how they've got turn into the corporations that we see this present day, supplying readers with a transparent figuring out of which industry sectors are inclined to see the main involvement from the differing kinds of establishment and, importantly, why they're concerned with those industry parts. the writer will carry those associations to existence via a few case reports corresponding to AIG and northern Rock, illustrating why a specific establishment, performs this type of key function within the markets, and what occurs whilst whatever is going wrong."--
"This ebook will examine all of the associations working this day, illustrating what they're, how they paintings, how they have interaction and importantly, their motivation"-- �Read more...
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Extra resources for Market players : a guide to the institutions in today's financial markets
There may well be reports and projections that will need to be prepared for presentation to the bank, listing authorities, credit rating agencies or any other interested parties. However the money is raised there will be a cost involved, maybe in an interest rate but also in fees to be paid to the bank, auditors, advisers, etc. This cost needs to be P1: TIX c02 JWBK490-Rolland 18 September 20, 2010 11:35 Printer: Yet to come Market Players quantified and evaluated. So, the treasury will have to take a very handson role in this project.
So, let’s think about the business of these banks. Most commercial banks will divide their business into two parts, retail and corporate. The corporate side is then normally subdivided according to the size of the company and thus the amount of exposure it presents to the bank. Grouping the customers in this way performs two functions. On the one hand it helps to ensure that they are offered the right products, and secondly, for the bank, it helps to identify the type of exposures they will see coming from these customers.
These are the other sales channels that we referred to in our diagram. In order to be cost-efficient the banks have invested heavily in the technology that will allow their customers to deal with them electronically. These dealing systems will mimic the role of the salesperson in that they relay prices, but there is not one single price for each market participant. Prices can vary according to the credit risk of the counterparty and also to the size of the deal. So these dealing systems have to be sufficiently flexible to allow for these differences, applying spreads to lower bids, and raise offers according P1: TIX c02 JWBK490-Rolland September 20, 2010 11:35 Printer: Yet to come Commercial and Retail Banking 23 to preset criteria, whilst taking a feed from the trading desk of the more generic market rate.