Equity Markets: Trading and Structure

The course is designed to give you a broad understanding of the operations of equity markets, and an in depth knowledge of liquidity, market structure and trading that will enable you to operate more effectively as an industry professional or to be a better informed retail customer. In equity markets around the world, investors are increasingly concerned with controlling transaction costs, and innovative trading technologies have been introduced. In this context, the course focuses on the operations of exchanges, trading systems and broker/dealer intermediaries, and on the impact of computer technology and market structure regulation. Simulation software is used to provide hands-on experience with making tactical trading decisions in different market structure environments. We run the simulation several times in class in a networked environment, and you will run a standalone version outside of class. The course also includes addresses by three prominent industry professionals.