| CODE | BKF3151 | ||||||||||||
| TITLE | Securities Markets and Trading | ||||||||||||
| UM LEVEL | 03 - Years 2, 3, 4 in Modular Undergraduate Course | ||||||||||||
| MQF LEVEL | 6 | ||||||||||||
| ECTS CREDITS | 4 | ||||||||||||
| DEPARTMENT | Banking, Finance and Investments | ||||||||||||
| DESCRIPTION | This study-unit provides a practical understanding of some of the core areas relating to securities trading. It also provides an understanding of how different market participants behave and how trading setups may be structured. Students are also exposed to basic research relating to securities trading and the analysis of financial market data. Study-Unit Aims: The study-unit aims at providing participants with an introduction on technical aspects of trading of securities. It provides a background on all the technical aspects related to trading of securities, including types of orders, characteristics of financial market data, description of empirical aspects of microstructure, theory of trader and financial intermediary behaviour. It is structured over fourteen lectures of two hours each. By offering this credit, the Banking and Finance Department of the University of Malta is confident that its graduates will be well equipped to study other more in-depth courses related to banking The Banking and Finance Department’s study-unit on securities markets and trading is unique. It is designed for students who would like to pursue a career in financial services. The securities markets and trading study-unit provides detailed knowledge together with practical skills so that students are able to fulfill their responsibilities more efficiently and effectively once they embark on their profession. By drawing upon international best practice, it helps prepare students to adapt to the modern financial services practitioners’ environment. Learning Outcomes: 1. Knowledge & Understanding: By the end of the study-unit the student will be able to: 1. Explain the Theoretical Models of Trader and Financial Intermediary Behaviour 2. Name the various types of orders used in trading securities 3. Explain Empirical Market Microstructure Studies 4. List the issues related to stock market design 5. Describe Characteristics of Financial Market Data 6. Identify the main issues that stock markets face in today’s financial markets 2. Skills: By the end of the study-unit the student will be able to: 1. Estimate the impact of technological innovation on stock market trading 2. Rank stock markets in terms of liquidity, market depth, and other characteristics 3. Compare the the characteristics of different market orders 4. Evaluate stock market designs and their impact on trading 5. Distinguish different types of market orders and their impact on prices and execution 6. Assess the challenges that modern sstock markets face as a result of financial innocation Main Text/s and any supplementary readings: Suggested Text Books: Various articles will be handed out during the module. The following text provides a comprehensive outline: - Hasbrouck, J., 2007, Empirical Market Microstructure, Oxford University Press, USA. |
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| STUDY-UNIT TYPE | Lecture and Tutorial | ||||||||||||
| METHOD OF ASSESSMENT |
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| LECTURER/S | Silvio John Camilleri |
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The University makes every effort to ensure that the published Courses Plans, Programmes of Study and Study-Unit information are complete and up-to-date at the time of publication. The University reserves the right to make changes in case errors are detected after publication.
The availability of optional units may be subject to timetabling constraints. Units not attracting a sufficient number of registrations may be withdrawn without notice. It should be noted that all the information in the description above applies to study-units available during the academic year 2023/4. It may be subject to change in subsequent years. |
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