Programme
This course concerns a 1-day online workshop covering the following topics:
- Fundamentals of trading
- Why does trading take place?
- Where does trading take place?
- When does trading take place?
- Who does trading take place?
- How does trading take place?
- On-venue versus off-venue trading
- OTC deals versus exchange transactions
- Brokerage agreements versus memberships
- Brokerage services & direct market access
- Discretion vs. a non-discriminatory basis
- KYC procedures & rulebooks
- Bilateral deal-making versus multilateral deal-making
- Counterparty risk
- Netting
- Clearing
- Margining
- OTC deals versus exchange transactions
- The organisation of trading
- The role of brokers
- The role of exchanges
- The role of clearing houses
- The role of clearing members
- The cost of trading
- Fee structures
- Cost of capital
- Data & news