Trading on London Stock Exchange
6 Mar 2020
London Stock Exchange, London.
Designed to give delegates an understanding of how the different trading services work including reference to the Rules of the London Stock Exchange giving context to both electronic and offbook trading.
Trading on London Stock Exchange is designed to give delegates a step-by step understanding of how the different trading services work. An overview of the primary markets gives relevance to the secondary markets, taking into account the single market in financial services across the EU and how that has shaped the operation and structure of our trading services. Reference to the Rules of the London Stock Exchange gives context to both electronic and offbook trading. Live market data is used to give a real-time view of the trading services in an interactive learning environment.
The course will give a practical understanding of:
- Electronic order-driven trading
- Quote-driven trading
- What instruments are traded on Exchange apart from shares
- Who the key market participants are and how they interact
- How market making works
- The importance of the closing auction process
- Other types of scheduled and unscheduled auctions
- What is meant by 'on Exchange’ 'off Exchange’ 'off book' trading
- Trade reporting, including recent Rulebook changes in preparation for implementation of MiFID II
- Market Supervision for detection of market abuse
- How the primary markets are relevant to the secondary markets
- Post trade, including the role of the CCP
- Delegate pack for notes with full copy of all slides
- Jargon-buster: Glossary of market terms
- Practical exercises and worked examples
- Live explanation of closing auction process
Who should attend?
Trading on the London Stock Exchange will be of direct relevance to the following audiences and institutions:
- Compliance managers
- Retail brokers
- Institutional brokers
- Proprietary equity traders
- Risk managers
CPD points: This programme attracts 12 CPD points.
9:00 - 09:20 – Welcome and introduction to course objectives
Putting London Stock Exchange in to Context
- Background to London Stock Exchange Group
- Key functions of an exchange Primary Markets
- How and why do companies issue equity?
10:30 - 10:45 – Coffee
- Main market
- Professional Securities Market (PSM)
- Specialist Fund Market (SFM)
- Dissemination of regulatory information - RIS - RNS
- Continuing obligations
- Regulatory Structure
- Regulatory framework
- London Stock Exchange Rules and regulatory role
12:30 - 13:30 - Lunch
Instruments traded on Exchange
- Brief overview from shares to DRs and covered warrants
- Secondary market trading services
- SETS order book trading
- IOB - Order book functionality
- Trading rules
15:30 - 15:45 – Coffee
- Interruptions to trading
- Live demonstration of closing auction
- How closing prices are determined
- FTSE 100 competition results
16:45 - 17:00 – Q&A
17:00 – Close
Secondary Markets - Key market participants
10:30 - 10:45 – Coffee
- Quote driven trading
- Market Making obligations
- Trading away from the order book including RSPs
Membership of London Stock Exchange
- Becoming a member
- Member obligations
- Trading connectivity
12:30 - 13:30 – Lunch
Trade reporting & trade publication
- Purpose of trade reporting
- Reporting responsibility
- Transaction reporting
Post trading processing
- Role of the central counterparty (CCP)
- How CCP manages risk
- Market monitoring
- Market abuse
15:15 - 15:30 – Coffee
Multilateral Trading Facilities (MTFs)
- European landscape
- Dark Pools of liquidity
17:00 – Summary and close
"All topics were fully explained and it was not overwhelming with too much information - very good."
"It gave a really good overview of London Stock Exchange, whilst showing depth in the important areas."
"It was a very detailed and informative course with a lot of information being delivered in a short period of time. Very impressive."
"The trainer is amazing. Very personable."
"Very engaging presenter."
"The depth of content was impressive. The explanation of the trading screens was particularly useful and interesting."
"Very dynamic presentation – the trainer really engaged with the audience. It was great to follow the market live on screen."
"The use of real-life examples made it easy to understand complex topics. I would definitely recommend it!"
"I gained great insights into different types of trades."
"The course was very interactive and really held my interest."
"I found all elements of the course to be insightful and helpful. As somebody new to this area, it has really helped my improve my knowledge."
"Very well considered material and very knowledgeable trainer."
"I came to this course with very little knowledge of trading and now have a very good overview. The course materials are particularly useful to refer to post course."
"I found all elements of the course to be insightful and helpful – it has really helped to build my knowledge in this area."
"Very useful course to put trading terminology and processes in context and will definitely assist me in my role."
"A very relevant and well delivered programme. I highly recommend it."