Operations of Financial Markets

Catalog description

This course teaches trade lifecycle, related regulation, market microstructure and algorithmic trading that are needed to achieve success in the area of financial operations and technology. Students learn about the entire lifecycle of trading, consisting of pre-trade, trade execution, post-trade, and ongoing position management. Pre-trade explores activities such as onboarding, due diligence, technology and trade planning. Trade execution explores trading platforms, trading venues, and trade types. Post-trade explores clearing and settlement, as well as related participants and organizations. Ongoing position management explores transaction cost analysis, reconciliation, corporate actions, and other ongoing position management activities. This course also explores regulation in-depth including Reg NMS, securities regulation, derivatives regulation, investment company regulation, investment advisor regulation, with a specific focus on Title VII of the Dodd-Frank Act, Section 619 of the Dodd-Frank Act, Reg NMS, and regulation related to systemic risk. The course will also introduce students to the market microstructure literature and to the field of algorithmic trading.