47.Investment bank services: secondary services (such as equity securities).

An investment bank helps an organization, which may be a company, or a government or one of its agencies, in the issuance and sale of equity securities. It is usually a division of a brokerage firm, because many of their activities are related. When an organization needs funds, it will first discuss the options and possibilities with an investment banker: how much money will be needed, what type of security to sell and any special features it might have, at what price, and how much this will cost the company.

An equity security is a share of equity interest in an entity such as the capital stock of a company, trust or partnership. The most common form of equity interest is common stock, although preferred equity is also a form of capital stock. The holder of an equity is a shareholder, owning a share, or fractional part of the issuer. Unlike debt securities, which typically require regular payments (interest) to the holder, equity securities are not entitled to any payment. In bankruptcy, they share only in the residual interest of the issuer after all obligations have been paid out to creditors. However, equity generally entitles the holder to a pro rata portion of control of the company, meaning that a holder of a majority of the equity is usually entitled to control the issuer. Equity also enjoys the right toprofits and capital gain, whereas holders of debt securities receive only interest and repayment of principal regardless of how well the issuer performs financially. Furthermore, debt securities do not have voting rights outside of bankruptcy. In other words, equity holders are entitled to the "upside" of the business and to control the business.

Stock (shares) that represents ownership of a firm. Equity securities usually provide steady income as dividends but may fluctuate significantly in their market value with the ups and downs in the economic cycle and the fortunes of the issuing firm. Right to subscribe for, or convert another security (such as a bond) into, the common stock (ordinary shares) of a firm.

An instrument that signifies an ownership position (called equity) in

corporation, and represents a claim on its proportional share in the corporation's assets and profits. Ownership in the company is determined by the number of shares a person owns divided by the total number of shares outstanding.

48.Investment bank services: secondary services (such as ficc services – fixed income instruments, currencies, and commodities)

Fixed Income, Currencies and Commodities (FICC) provides a variety of trading, research, sales and financing services across the globe with an underlying specialization in interest rate, commodity or foreign exchange related institutional trading, marketing, lending, clearing or platform provision.  FICC operates in most major trading and emerging markets around the world.

The predominant FICC client base is financial institutions and significant commodity producers and consumers.  With structuring, sales and trading professionals in the Americas, Canada, Australia, New Zealand, Asia and the Middle East, FICC offers quality service and risk management solutions to meet our clients’ needs.

FICC offers trading, sales, research and finance covering: 

• Fixed income – interest rate, debt and credit securities

• Currency – foreign exchange spot, forward and tailored services  

• Commodities – metals, energy, agriculture, freight, bulk commodities, and complementary futures services 

Opportunities exist for graduates that are interested in working in a dynamic trading environment in positions including junior traders, risk analysts, sales analysts, research analysts, structuring analysts, compliance and legal roles.

Past graduates have come from diverse backgrounds including economics, engineering, commerce, finance, law, science and mathematics.

Fixed Income, Currencies and Commodities (FICC) operates across global physical and financial commodity markets, and primary and secondary financial markets, providing finance, risk solutions and market access to producers and consumers as well as financial institutions and investors. FICC's comprehensive platform provides trading, risk management, sales, structuring, financing and market analysis and strategy services in metals and energy capital; energy, metals and agricultural markets; fixed income and currency markets; credit markets; futures; and Asian and emerging market

FICC markets underpin almost every major financial transaction in the global economy. They help determine the borrowing costs of households, companies and governments, set countries’ exchange rates, influence the cost of food and raw materials, and enable companies to manage financial risks associated with investment, production and trade.

The Fixed Income, Currency and Commodities (FICC) markets lie at the heart of every aspect of the global economy. They are huge in size, and highly diverse. FICC markets tend to be dominated by large professional counterparties, often acting on behalf of end-users or investors.