Learning Platform - "Markets & Trading"

Course: Central Orderbook

About the online training programme

This course contains animation-style videos with narration which set out the working of the central order book, which is operated by trading venues. It is explained how orders are being processed and how pricing takes place. Besides, attention is given to market liquidity and what the bid-ask spread concerns. It is set out the difference between order initiation and aggression, which orders have priority and which rules apply to order execution.

Course contents

This course covers the following videos:

1. Price formation – Introduction
2. Price formation – One-way pricing
3. Price formation – Two-way pricing
4. Price formation – Price drivers
5. Central order book – Introduction
6. Central order book – Order book details
7. Central order book – Rules of engagement
8. Central order book – Opening rotation
9. Central order book – During trading hours – Order submission
10. Central order book – During trading hours – Order initiation
11. Central order book – During trading hours – Order aggression
12. Central order book – During trading hours – Order execution
13. Central order book – Functioning
14. Central order book – Filling the order book
15. Central order book – RFQ
16. Central order book – Voice brokering
17. Central order book – Tick & tick size

This course also includes examination and certification.