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Equity Trading and Sales

 

The following topics will be covered in the course:

Module 1 Equity Market Structure and Overview

Section 1: Structure of equity markets

  • 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

  • What are various types of equity trading firms?
  • 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

  • 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

  • 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

  • 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 does 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

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

Section 3: IIROC Rules and Guidelines Pertaining to Equity Trading

  • 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

  • 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

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

How you'll learn

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

Approximate Hours of Study**
Hours of Study 9 hours
TEST FORMAT  
Number of Test 1
Test Format Online Test
Test Length 2 Hours
Question Format Multiple Choice
Questions Per Test 60
Attempts Allowed Per Test 2
Test Passing Grade 60%
ENROLMENT PERIOD  
Enrolment Period 6 months

Continuing Education (CE) Credits

Click the links below or the buttons at the top of the page on the right side to access CE accreditation information. To search for specific course information, press Ctrl + F and then enter the course name to search the document for the information you are interested in.

National/Provincial (Excluding Quebec)
Download CE Chart (PDF, 163 kb)

Quebec (IQPF/CSF)
Download IQPF/CSF Chart (PDF, 182 kb)

Please note: While CSI makes every effort to ensure that the information is up-to-date, we are unfortunately unable to fully guarantee its accuracy. The information listed in the charts above may be subject to change.

For details on the organizations and other information on CE Credits listed in the above charts, please click here.

This course is now eligible for CFA CE credits. CFA – Confirmation of CE Activities (PDF)

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