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CSI will be performing system maintenance on Saturday May 11th from 5 a.m. until 1 p.m. ET. You will not have access to your “myCSI” student account, nor will you be able to book, cancel or reschedule exams during this time. You can still access your online course materials by visiting connect.csi.ca then connecting to “Blackboard Learn”.

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: CIRO 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 CIRO 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.