Equity Post-Trade Key market participants Market participant Role Description Custodian Bank Core An entity that investors use to place trades with the exchange, and that manages post-trade processes and stores assets for servicing Investor Core An individual or organization that instigates equity post-trade processes by initiating a trade Central Securities Core The entity that supports matching trade sections prior to settlement and facilitates Depository asset servicing processes Central Clearing Core The central body that manages counterparty credit risk during settlement by Counterparty acting as the buyer to the seller and vice versa to the buyer Exchange Supporting Theentity that matches equity “buy” and “sell” orders on behalf of investors, and confirms them prior to successful post-trade processes WORLD ECONOMIC FORUM | 2016 121