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Published byDina George Modified over 8 years ago
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Integrated Collateral Management Thailand Securities Depository ACG Cross Training 11 th
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Agenda Current Architecture Conceptual Framework Benefit Obstacles
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Current Architecture Market Structure Cash Market Derivatives Market Exchan ge Clearin g House CSD
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Current Architecture Account Structure TSD/TCH Derivatives Market SBL/REPO Market Cash Market House Client House Client House
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Current Architecture Derivatives Market Cash Market Excess Collateral are manually moved by the member Member Excess Collate ral
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Derivatives Market Cash Market Excess Collateral will be automatically moved to deficit account by Clearing House Conceptual Framework Clearing House Excess Collate ral
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Conceptual Framework Collateral Management Derivativ es Market Equity Market Fixed Income Market SBL/Rep o Market
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Conceptual Framework Member Cash SettlementSBL/Repo MarginDerivatives Margin Ass et Collateral Pool Asset Class - Cash - Equity - Government Bond Clearing House
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Conceptual Framework Omnibus Client A/C Market A Omnibus Client A/C House A/C Market B House A/C Excess Collateral can be moved from House A/C to Client A/C but not vice versa
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Conceptual Framework Collateral Cash Others Cash Others House A/C Client A/C Clearing & Settlement Cash Securities House A/C Client A/C Securities Excess Collateral can be used in –Collateral Process –Clearing & Settlement Process for Cash Market –Margining Process for Derivatives Market Collateral Pool
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Benefit Enhance Efficiency Reduce back-office work Reduce Cost Reduce Risk
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Obstacles Regulation Rules
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