Settlement

Settlement is a crucial process in trade operations. At maturity a contract has to be respected and
agreements have to be effectuated. How this works is set out in this course.

This course covers the following videos:

1. Introduction
2. Settlement types
3. Supply contracts vs. derivatives
4. Physical delivery vs. cash settlement
5. Settlement risks
6. Avoiding physical delivery
7. Settlement date
8. Dynamics in settlement dates
9. Cash settlement
10. Contracts with delivery moment – Introduction
11. Contracts with delivery moment – Last trading day & maturity
12. Contracts with delivery moment – Seller’s choice
13. Contracts with delivery moment – Physical delivery
14. Contracts with delivery period – Introduction
15. Contracts with delivery period – Time-to-maturity
16. Invoicing & payment
17. Specific differences
18. First & last notice day
19. Closing or rolling
20. Exchange-traded futures vs. OTC-traded forwards
21. Alternative delivery procedure
22. EFP – Introduction
23. EFP – Applications
24. EFP – Applications – Swap futures for physicals
25. EFP – Applications – Open a futures position
26. EFP – Applications – Close a futures position
27. EFS – Exchange of futures for swaps
28. Trading at settlement
29. TAS order initiation & matching
30. Trading at marker
31. Contracts with delivery period – Settlement
32. Contracts with delivery period – Lower margin requirement during delivery
33. Contracts with delivery period – Cascading – Introduction
34. Contracts with delivery period – Cascading – Volume neutrality
35. Contracts with delivery period – Cascading – Value neutrality
36. Contracts with delivery period – Cascading – The objective
37. Contracts with delivery period – Cascading – Impacting margin requirements