| CODE | BKF5132 | ||||||||||||
| TITLE | Securities Markets: Financial and Organisational Aspects | ||||||||||||
| UM LEVEL | 05 - Postgraduate Modular Diploma or Degree Course | ||||||||||||
| MQF LEVEL | 7 | ||||||||||||
| ECTS CREDITS | 5 | ||||||||||||
| DEPARTMENT | Banking, Finance and Investments | ||||||||||||
| DESCRIPTION | The study-unit is designed to offer a practical understanding of current trends in securities trading. It will explore the typical policies of various market participants and the interactions involved in the process of determining trading prices. The study-unit also provides a rigorous insight of trading protocols and how these generate liquidity. The study-unit covers the following areas: - The Securities Industry and Why People Trade - The Determination of Stock Prices - Stock Market Data - An Overview of Market Microstructure Theory - Trader Behaviour and Securities Mis-pricing - Emerging Markets - Market Liquidity - Different Trader Types - Investment Policies - Order-Driven Markets - Intermediated Markets - Investor Protection By the end of this study-unit, students should be able to: - Recognise the prevalent trends in securities markets and different types of market participants; - Distinguish between various trading setups; - Understand the main issues related to market volatility; - Appreciate the rationale behind established securities market practices, such as the emphasis on investor protection, and the aim to foster market liquidity. Reading List and Material The main study-unit text is: - Harris, L., Trading and Exchanges: Market Microstructure for Practitioners, Oxford University Press, 2003 [ISBN: 9-780195-144703] Other reading material is included in: - Schwartz, R. and Francioni, R., Equity Markets in Action: The Fundamentals of Liquidity, Market Structure and Trading, John Wiley and Sons Inc., 2004 [ISBN: 9-780471-469223] - Wärneryd, K.E., Stock-Market Psychology, Edward Elgar, 2001 [ISBN: 9-781843-762188] - Graham, B., and Zweig, J., The Intelligent Investor, Collins Business Essentials, 2006 [ISBN: 978-0-06-055566-5] - Teweles, R. and Bradley, E., The Stock Market, John Wiley and Sons Inc., 1998 [ISBN: 9-780471-191346] |
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| STUDY-UNIT TYPE | Lecture | ||||||||||||
| 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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