Market Structure

3 Credits · Level: Graduate, Undergraduate

Vibrant capital markets depend upon an important ecosystem of investors, brokers, exchanges, depositories, settlement institutions, and regulators. This course provides participants with a basic foundation in market structure and the mechanics of how securities and derivatives are issued, traded, cleared, and settled in the various countries around the world and for different asset classes. It builds upon the previous course in financial instruments and institutions to develop a workable appreciation of the mechanics of how markets actually operate. Current topics such as the role and responsibilities of intermediaries, the differences between public and private markets, experiences with financial market linkages, the challenges in creating a consolidated tape, the issues around mutual recognition and the classification of markets as Developed, Emerging and Frontier will be covered.