Our Operations Group

• Equity Operations
• | Fixed Income Operations
• | Investment Management Division Operations
• | Information and Exposure Management
• | Clearance and Custody Services
• | Operations Control
• | Business Analysis Group

Clearance and Custody Services (CCS) is responsible for functions ranging from clearance and settlement with global clearing banks and depositories, to custody control.

The team is divided into six different groups:

Clearance Operations

The Clearance Operations group provides a wide array of services for the Firm's various businesses and customer base. The group's primary objective is to meet the needs of its internal clients, which includes Sales and Trading, Accounting, Treasury Operations, and other support groups within the Firm. The team simultaneously provides high-quality service to its external clients, including custodian banks and clearing and settlement utilities.

Custody Services

Custody Services performs a variety of support services for the Firm and customer assets. These services are executed in a manner that strives to provide exceptional service levels while operating in a disciplined control environment.

Futures and Options

The Clearing and Custody Services Futures and Options department supports futures transactions executed by clients and the Lehman Brothers trading desks.

The Futures and Options department is responsible for:

• Clearance and settlements for U.S., Asian and European third-party supported futures markets, OTC, Metals and Middle Eastern regional settlements.

	“The team supports futures transactions executed by clients and the Lehman Brothers trading desks.”

• Global reconciliation for all futures markets and inter-company activity.
• Collateral movements for futures clients and Firm margin funding.
• Regulatory reporting (CFTC, Tefra, large trader and open interest).
• Global pricing for all products.
• Trade capture and correction processing.
• Database management (new products, commissions, fees and brokerage).

Government and Mortgage Operations

Government and Mortgage Operations allocates mortgage-backed securities pass-through bonds in accordance with the Bond Market Association guidelines. The department manages the Firm's inventory and receives and delivers pool information necessary for the settlement of such bonds. It also manages the trades that are posted on the Mortgage Backed Securities Clearing Corporation (MBSCC).

Customer Account Services

Customer Accounts Services (CAS) is structured to support client-related static data. The department consists of two distinct services, which are new accounts and documentation. These areas provide infrastructure for the standardization and centralization of client and account-related static data across the Investment Management and Capital Markets Divisions. CAS maintains the integrity of this data through a variety of internal and external sources. CAS is also a key participant in ensuring the Firm's compliance with various exchange-and industry-related rules and regulations that are specific to the establishment of client relationships.

Chicago Clearing

This group provides support for the Chicago futures business transacted by clients and trading desks for Lehman Brothers. The team is responsible for:

• Clearance and settlements for Chicago futures markets.
• Global reconciliation for Chicago futures markets and inter-company activity.
• Collateral movements for futures clients and Firm margin funding.
• Regulatory reporting.
• Global pricing.
• Trade capture and correction processing.
• Database management (new products, commissions, fees, and brokerage).