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Trader Training Course (TTC)

 

Trade With Confidence

The TTC provides the skills required to register as an equities trader. Learn about markets, trading rules and how to execute orders on behalf of clients. You'll gain the techniques required to trade confidently and successfully in lightening-fast markets.

Learn About:

  • Violations and enforcement
  • General market information
  • Orders and the book
  • Trading rules
  • Supervision of trading
  • Other exchanges and marketplaces
  • Institutional equity trading

Learning Experience

CSI’s online learning system helps you meet your study goals. You'll benefit from:

  • Textbook readings available in PDF, eBook and printed format
  • Online assistance from CSI's academic support specialists
  • Online post-chapter review questions to assess your progress
  • Learning objectives that keep you focused
  • Annual course updates to ensure you’re learning the most current and up-to-date practical material

What You'll Learn

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Topics covered in this chapter are:

  • Regulation and Structure of Canadian Marketplaces

  • Equity Trader Roles

  • Traders Duty

  • High Frequency Trading

Topics covered in this chapter are:

  • Types of Orders and Terminology

  • Special Terms Orders

  • Special Types of Orders under UMIR

  • Algorithmic trading

  • The Book

  • Handling Special Terms Orders

  • Order Markers

  • Standard Trading Units and Minimum Trading Increments

Topics covered in this chapter are:

  • Trading Hours

  • Prior to the Opening

  • At the Opening

Topics covered in this chapter are:

  • Time Priority Allocation

  • Short Sales

  • Minimum Guaranteed Fills

  • Put-Throughs (Crosses)

  • Fiduciary Responsibility When Acting as Principal

  • Moving the Market

  • Investment Advisor – Client Crosses

  • Jitney Trading

  • Halts, Suspensions, Cease Trading Orders, Delays and Freezes

Topics covered in this chapter are:

  • At the Close

Topics covered in this chapter are:

  • Trading Restrictions Under UMIR Rule 7.7

  • During a Distribution

  • Permitted Transactions During a Distribution

  • Program Trading

Topics covered in this chapter are:

  • Take-over Bids, Issuer Bids, Insider Bids and Sales by Control Persons

  • Trades Subsequent to a Cancellation

  • NCIB Quick Reference Charts

Topics covered in this chapter are:

  • UMIR Policy 7.1 – Policy on Trading Supervision Obligations

Topics covered in this chapter are:

  • The Parties Concerned

  • Just and Equitable Principles

  • Manipulative and Deceptive Method of Trading

  • Powers and Remedies

  • Guidelines for IIROC Disciplinary Proceedings

Topics covered in this chapter are:

  • Approval Requirements

  • Trading on the CSE

Topics covered in this chapter are:

  • Background

  • Transparent Versus Dark Books

  • Execution of Large Block Orders

  • Types of Marketplaces

  • Summary Comparison of Current Equity Marketplaces

  • Regulatory Issues

Topics covered in this chapter are:

  • The Various Types of Institutional Investors

  • Organizational Structure

  • The Four Areas of the Front Office

  • Information Flow among Portfolio Managers and Traders

  • Investment Mandates

  • Equity Investment Management Strategies: Passive versus Active

  • The Role of a Buy-Side Equity Trader

Approximate Hours of Study**
Hours of Study 40 - 60 hours

** In order to provide some guidance to course participants as to the length of time it will take to be sufficiently prepared to write the final examination, CSI has prepared this estimate of the number of hours an average participant could possibly expect to spend studying for a course. Please note that these are only recommended hours of study developed based on research and our course content, however, this does not mean that some students with exceptional backgrounds would not take less time than recommended or that students with no background at all in finance or economics would not take longer than the maximum.

EXAM WEIGHTINGS
(weightings are approximate)
Overview of the Canadian Equity Trading Environment 9%
Orders and the Book 17%
Trading Rules: The Opening 8%
Trading Rules: Trading During the Day 26%
Trading Rules at and After the Close 6%
Special Trading Rules: Stabilization, Program Trading, Take-over Bids 11%
Supervision of Trading in a Marketplace 6%
Violations and Enforcements 6%
Marketplaces in Canada 6%
Understanding the Institutional Investor 5%
EXAM INFORMATION
Exams 1
Exam Format Paper or Computer Based
Exam Duration 3 Hours
Question Format Multiple Choice
Questions Per Exam 100
Attempts Allowed Per Exam 3*
Passing Grade 60% (Per Exam)
Assignments None
ENROLMENT PERIOD
Enrolment Period 1 year†
COURSE COMPLETION NOTICE AND WALL CERTIFICATE

On successful completion of this course you will be able to download a Notice of Course Completion available through your student profile. This will remain on your profile as formal indication of course completion.

CSI will mail you a wall certificate within 4 - 6 weeks of course completion. If you would like to purchase a frame to display your certificate please click here. Please ensure that your First and Last Name on your profile match your First and Last Name on your Government Issued Photo identification - this will ensure you receive an accurate certificate.

CSI will be pleased to issue an Honors Certificate to all students who obtain a final course mark of 85% or higher.

*There is no charge for your first attempt at a paper-based exam within Canada, as long as it's at a regular exam center and you provide a minimum of 14 days notice before the date that you want to write the exam. If you would like to write a computer-based exam, an additional fee will be required.

Each subsequent paper-based exam attempt at a regular exam centre within Canada will also require an additional fee. This fee is in addition to any special, computer-based or international fees that may apply. You must provide a minimum of 14 days notice within Canada at a regular exam centre and 4 weeks notice for all other centres. Please note that the date of the exam is not part of any notice period.

†Please note: Access to your online materials will close 2 weeks after successful course completion or course expiry (whichever comes first). This course can be extended by 1 year provided you have not exceeded the attempts allowed for each exam. You can view CSI extension fees here. Your enrolment period can only be extended one time.

Important: During a student's enrolment period, CSI may update this course. In that case, details about the update and how it may affect students will be posted online via My CSI. Students are held responsible for and are examinable on the content in the course textbook(s) provided at the time of enrollment unless stated otherwise in My CSI. Students are encouraged to check My CSI regularly throughout their enrolment period.

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.