How we settle trades at Conduit Global Markets...
Fixed Income/Structured Product Settlement
Example Bond Trade, settles
Client Trade Side: | BUY |
Security: | BABA 3.6 11/28/24 |
Nominal: | USD 1,000,000 |
Gross Price:: | 100.05 |
Net Price: | 100.15 |
Accrued Interest: | USD1,500 |
Net Proceeds: | USD1,003,000 |
Conduit stands back to back between the client and the market, acting as an agent to enable our clients to trade via multiple market counterparties without onboarding them directly
Conduit’s license conditions mean we cannot take positions or trade on our own account
Delivery vs. Payment: securities and cash settle simultaneously
Settlement is via Euroclear / Clearstream - standard market settlement infrastructure
Equity Settlement
Example Equity Trade
Client Trade Side: | BUY |
Security: | AAPL US |
Shares: | USD 10,000 |
Gross Price: | 135.0000 |
Net Price: | 135.3375 (25 bps) |
Net Proceeds: | USD1,353,375.00 |
Conduit places orders electronically with our panel of institutional equity brokers;
An anonymous account number is specified on the order which is mapped to the clients’ standard settlement instructions;
After execution, Conduit sends a confirmation to the Client and their custodian with detailed instructions for settlement;
Settlement is anonymous, via standard market infrastructure from the broker to the client’s custodian.