Illustrative course outlines

At OTC we believe in tailoring our courses to meet each client’s specific requirements.  The illustrative course outline below gives an indication of the type of course content that we’ve been asked to deliver. For more information call us on +44 20 7700 3330 or email

Strategy & Leadership Finance & Commerce Investment Banking

Clearing and Settlement

What is covered?

The aim of the course is to enhance participants’ knowledge of the process of clearing and settling trades from the role of CSDs to back office processing.  As part of the course we will also look into methods of settlement including account periods, physical, immobilised, dematerialised and settlement and within the back office functions, verification and reconciliations.

Who will benefit?

Participants who want to understand the processes of settlement within the financial system with no prior knowledge of the clearing system.

Course content

Clearing and settlement
    • What is clearing?
    • What is settlement
    • The role of the clearing houses and CSDs
Methods of settlement
    • Account period settlement
    • Rolling settlement
    • Physical securities settlement
    • Immobilised securities settlement
    • Dematerialised securities settlement
    • Delivery-versus-payment
    • Free-of-payment
The Back office
    • Input & completion
    • Verification by confirmation
    • Settlement and reconciliation


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