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What is the course syllabus?

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Module 1 - Equity Market Structure and Overview

Section 1: Structure of Equity Markets

Topics covered in this chapter are:

  • What is the function of an equity exchange?
  • What are the three different types of exchange structures?
  • What are the key exchanges in Canada and the US?
  • Who are the key regulators of exchanges in Canada and the US?
  • What are the key trading registration categories in Canada and the US?
  • What are the three different types of trades?

Section 2: Structure of Equity Firms

Topics covered in this chapter are:

  • What are various types of equity trading firms?
  • What is the organizational structure of a buy side equity trading desk?
  • What are the revenue sources of sell side equity trading firms?
  • Direct Market Access (DMA)

Module 2 - Equity Trading Roles and Techniques

Section 1: Roles and Responsibilities of Equity Trading Professionals

Topics covered in this chapter are:

  • What are the different types of occupations in equity trading?
  • What is the role of a Market Maker?
  • What is the role of an Agency Trader? (Including block trading)
  • What is the role of a Proprietary Trader?
  • What is the role of a sell-side sales representative?
  • What is the role of a Buy-Side Trader?

Section 2: Proprietary Trading Strategies

Topics covered in this chapter are:

  • What is the difference between directional and relative value strategies?

Module 3 - Trade Execution within Risk and Compliance Parameters

Section 1: Equity Trading Risk Management

Topics covered in this chapter are:

  • What is the role of the risk management department in effective operation of equity trading operations?
  • What are the various risk management measures related to equity trading?
  • How do regulatory capital rules affect both the holding and trading of equities by broker/dealers?
  • What are the considerations for selecting the correct steps to deal with a trading error?
  • What is the potential conflict of interest inherent in a proprietary trader’s role within a sell side firm? How can it be mitigated?
  • What is the purpose of investment guidelines and restrictions for buy-side equity mandates?
  • What are the typical investment guidelines and restrictions for equity mandates?

Section 2: Steps to Execute an Equity Trade

Topics covered in this chapter are:

  • How are the various steps in the equity trading process applied?

Section 3: IIROC Rules and Guidelines Pertaining to Equity Trading

Topics covered in this chapter are:

  • What is the role of Compliance in an equity trading operation and how does it differ between buy and sell side operations?
  • What are the sources and general principles behind the general equity trading regulations in Canada?
  • What are IIROC Gatekeeper responsibilities?

Module 4 - Equity Trading Trends and Issues

Section 1: Equity Trading Trends

Topics covered in this chapter are:

  • What changes has algorithmic trading caused to equity trading?
  • What changes has high-frequency trading caused to equity trading?
  • What caused the “flash crash” of 2010?
  • The Volker Rules’ potential impact on equity trading

Section 2: Issues: Computer-driven Equity Trading

Topics covered in this chapter are:

  • What are the pros and cons related to computer-driven equity trading?
  • What are dark pools?

How will you learn?

This course is taught online and includes an online textbook, Word documents, and web links.