Jälkikaupankäyntiprosessit

Jälkikaupankäynti, often translated as post-trade or post-settlement, refers to the processes that occur after a financial transaction has been agreed upon between two parties. This encompasses a series of activities designed to finalize the trade and ensure that both buyer and seller fulfill their obligations.

Key stages within post-trade processing include confirmation, clearing, and settlement. Confirmation involves verifying the details of the trade between the counterparties to ensure accuracy and prevent disputes. Clearing is a crucial step where a central clearing house acts as an intermediary, guaranteeing the transaction and managing the associated risks. This involves calculating net obligations between participants.

Settlement is the final stage where the actual exchange of securities for cash takes place. This can be physical delivery of securities or electronic transfer, and the corresponding payment is made. The efficiency and security of post-trade processes are vital for the smooth functioning of financial markets, as they reduce counterparty risk and ensure market stability. Different asset classes, such as equities, bonds, and derivatives, may have slightly different post-trade procedures, but the underlying principles remain consistent. The evolution of technology has led to increased automation and faster settlement times in many markets.