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FINANCIAL MARKET COURSES

Life of a Trade – An Introduction

This course provides a detailed introduction to the trade lifecycle, the different stages of that lifecycle, and the key participants in it. The course also describes how trading can be categorized by asset class and whether a trade represents a cash or derivatives market transaction. Other topics covered by the course include margin trading, securities lending, high touch versus low touch trading, straight through processing (STP), and settlement cycles.

  • OBJECTIVES

    On completion of this course, you will be able to:

    Identify the key stages of the trade lifecycle, including pre-trade, trade execution, trade clearing, trade settlement, and ongoing position and risk management

    Recognize that trading can be categorized by asset class, by whether it is a single position or an index position, and by whether it is a cash market or a derivatives market trade

    Identify the key participants in a trade, the role of front, middle and back offices, and market developments such as automation, straight through processing, and efforts to shorten settlement cycles

  • COURSE OUTLINE

    Topic 1: Overview of the Trade Lifecycle

    What is the Trade Lifecycle?

    Pre-Trade

    o Client Onboarding

    Trade Execution

    Trade Clearing

    o Trade Capture

    o Trade Enrichment

    o Trade Validation

    o Trade Confirmation/Affirmation

    o Trade Reporting

    o Preparation of Settlement Instructions

    Trade Settlement

    o Delivery-versus-Payment (DVP)

    o Free-of-Payment (FOP)

    Ongoing Position & Risk Management

    Topic 2: Asset Classes & Products

    Major Traded Asset Classes

    o Equities

    o Fixed Income

    o Foreign Exchange (FX)

    o Money Markets

    o Commodities

    Single Position vs. Index Trading

    Cash Market vs. Derivatives Trading

    Margin Trading

    Securities Lending

    Long & Short Positions

    Topic 3: Market Participants & Developments

    Key Participants

    o Trading Venues

    o Clearing Entities

    o Central Securities Depositories (CSDs)

    o Custodians

    Regulation

    Front, Middle, & Back Offices

    Automation

    o High Touch vs. Low Touch Trading

    o High Frequency Trading (HFT)

    o Straight Through Processing (STP)

    o Settlement Cycles

  • PREREQUISITE KNOWLEDGE

  • ESTIMATED COMPLETED TIME

    60 Minutes

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