The fixed income market is among the world's most complex. If you want to understand how this market works, then you need to begin with the fundamental concept of a bond.
Global custody is a big business. In 2012, the total value of worldwide custody assets was more than USD 120 trillion, according to specialist custody website globalcustody.net. The industry is dominated by four players which account for over two-thirds of such assets. The safekeeping of assets such as equities and bonds is of paramount importance in light of the global financial crisis. Anyone working in the asset administration industry needs to know the workings of global custody.