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What is the Cage Clerk/Manager role?

The Cage Clerk/Manager job includes the physical handing of securities, as well as ensuring that the settlement of all securities trades are carried out on the value date. It occurs in the one secured area where the physical certificates for bonds, money market instruments and/or stocks are handled. Depending on the financial firm, there may be separate stock, bond and money market cages. There may be a separate section for deliveries and another for receipts. Depending on the size of the firm, all of the following functions may be performed by securities cage personnel or there may be separate cage personnel or separate sections within the secured area, each dealing with their own responsibilities. Accuracy and an eye for detail are key characteristics of this job.

What are the responsibilities of this role?

  • Recording and reconciling all certificate serial numbers
  • Reorganizing securities to reflect changes in client or firm ownership of securities due to stock splits, rights or warrants issues, redemptions, or name changes
  • Safekeeping and segregation of securities in the firm’s control. These securities may belong to the firm itself or its clients

What are the alternate names for this role?

Bond/Stock Deliveries Clerk, Receipts Clerk, the Bond/Stock Cage Clerk, the Vault Clerk

What is the earning potential for this role?

$70,000-$100,000/year
Avg Salaries from Canadian job sites

What are the required & recommended credentials and courses?

Below are the courses and credentials required and/or recommended for this career.

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