Equities - Part 6 (2018)



This eCourse consists of two modules. Module 1 provides an introduction to Canadian equity markets. It primarily focuses on the workings of the Toronto Stock Exchange. It examines the regulators, indexes and types of securities in the market and also general trading practices, market conventions and clearing and settlement procedures.

Module 2 describes the key events – technological, regulatory, or otherwise – that have shaped the current structure of the US equity market and the operations of traders and trading venues within that structure.


On completion of this course, you will be able to:
- List the stock exchanges, market regulators, stock indexes and types of security in the Canadian market
- State the issuing procedures and listing requirements for equities in Canada
- Describe trading operations and market conventions for Canadian equities
- Explain how clearing and settlement procedures are organized in Canada
- Describe how decimalization in 2000 paved the way for the growth in electronic and automated trading
- Understand how subsequent regulation, namely Regulation NMS, aimed at curbing such activity has changed the market structure
- Describe how a number of high-profile events have negatively affected the market
- Outline how regulators have responded to such events in order to stem the decline in investor confidence
- Explain how primary markets function as a means for corporations to raise funding in the US, and the intense competition between exchanges for IPO business
- Describe how the traditional floor-based trading model has changed with the growth of electronic trading and the emergence of off-exchange venues such as dark pools


Module 1: Canadian Equity Market
Topic 1: Stock Indexes
Topic 2: Market Conventions
Topic 3: Types of Security
Topic 4: Stock Exchanges
Topic 5: Clearing & Settlement
Topic 6: Trading Procedures and Issuing Procedures
Topic 7: Listing Requirements
Topic 8: Market Regulator’s

Module 2: US Equity Market
Topic 1: Market Structure & Reform
Topic 2: Primary Market Issuing
Topic 3: Secondary Market Trading


SFC:2.00, PWMA:2.00