The Journal is written for one reader: the person who has to make an operational change work, and who will be asked why it did not. That person sits in many kinds of firm and carries many titles. The lists below are the Journal's working definition of its audience. If your responsibilities appear on them, the research is written with you in mind.
FIRMS
Broker-dealers and investment banks. Institutional and retail broker-dealers, prime brokers, clearing and correspondent-clearing firms, introducing and agency brokers, futures commission merchants, and the operations and technology divisions of global and regional investment banks.
Investment managers. Traditional long-only managers, ETF sponsors, hedge funds and alternative managers, private markets managers, and the outsourced middle-office and fund administration providers that serve them.
Asset owners. Insurance companies and their investment arms, public and corporate pension funds, sovereign wealth funds, endowments and foundations, and the investment operations teams that oversee custodians, managers, and securities lending programs on their behalf.
Custodian banks and fund servicers. Global custodians, agent banks and subcustodians, trust banks, fund administrators, transfer agents, trustees and depositaries, and the securities services divisions of universal banks.
Wealth managers. Wirehouses and independent broker-dealers, registered investment adviser platforms, private banks, retirement plan recordkeepers, and the operations groups behind managed accounts, model delivery, and direct indexing.
Market infrastructure. Central securities depositories and international CSDs, central counterparties and clearinghouses, exchanges and trading venues, trade repositories, matching and affirmation utilities, payment systems, and digital-asset infrastructure seeking institutional participation.
Securities finance and collateral. Agent lenders, principal intermediaries, lending programs at beneficial owners, triparty agents, collateral managers, and repo desks and the operations teams behind them.
Technology and data providers. Vendors of post-trade, custody, collateral, corporate actions, reconciliation, and regulatory reporting platforms; market and reference data providers; and the product and strategy teams inside them that need to understand their clients' operational problems as the clients experience them.
Advisers, associations, and regulators. Consultancies and law firms with securities operations practices, industry associations and working groups, and the supervisory and policy staff responsible for post-trade, custody, and operational resilience.
Functions
Executive leadership. Chief operating officer, chief administrative officer, chief risk officer, chief information and technology officers, chief data officer, head of securities services, head of global markets operations.
Operations. Heads of operations, post-trade and trade support, settlements, custody operations, corporate actions and income, reconciliations, securities finance and collateral operations, margin, fund accounting, middle office, and client service and onboarding.
Risk, control, and compliance. Heads of operational risk, operational resilience and business continuity, third-party risk, regulatory change, and regulatory reporting; operations compliance and control officers; internal audit leads covering operations and technology.
Technology, data, and change. Heads of operations technology and post-trade technology; enterprise and solution architects; heads of data governance and data quality; heads of transformation and program management; product owners for operations platforms.
Product, strategy, and commercial. Heads of product and strategy at custodians, infrastructures, and vendors; securities services sales and relationship leads; corporate development leads focused on post-trade.
A practical test
If a change to a settlement cycle, a collateral schedule, a corporate actions standard, a reporting regime, or a resilience rule would reach your desk as a project, a budget line, or a risk to accept, the Journal is written for you.
Individual or enterprise subscriptions
An individual subscription is $495 a year and belongs to one named person. If several people in your team, department, or organization would read the Journal, an Enterprise subscription is the proper instrument: one invoice, at a substantial per-reader discount, named seats that can be reassigned, and the right to circulate the research freely inside the licensed group.