Market Mechanics

What actually happens inside a bank's markets division - from the moment a trade executes to the moment it settles?Most finance textbooks teach theory. Most training programmes teach products. Nobody teaches the full operational picture: how trades move from execution through confirmation, clearing, and settlement; how collateral is managed; how OTC derivatives are documented, reported, and margined under EMIR; how risk is monitored in real time by middle office; and how the front, middle, and back office interact as one system.Market Mechanics fills that gap.Written by a former Director at Citigroup with 20+ years across capital markets at Citi, Barclays, Deutsche Bank, and Bank of America - and an MBA from London Business School - this is the plain-English guide to how a bank's markets business actually works.What you will learn: - The complete trade lifecycle - pre-trade through post-settlement- How OTC derivatives are structured, confirmed, and cleared- What central counterparties (CCPs) do and why they matter post-2008- How EMIR and MiFID II shape daily operations- Collateral management and the Uncleared Margin Rules (UMR)- How market risk, credit risk, and operational risk are managed- The roles of sales, trading, structuring, product control, and operationsWho this book is for: Finance graduates joining markets businesses. Operations and middle office professionals building a full-picture understanding. Candidates preparing for markets and operations interviews. Anyone working in or around a bank who has always wanted to understand how the whole system fits together.246 pages. 22 chapters. 75+ diagrams.