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Trading on London Stock Exchange

days to go
25-06-2021
Virtual classroom
This virtual classroom course was 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.
Course overview
Trading on London Stock Exchange virtual course 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.
Why attend?
This virtual classroom 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
Key takeaways
- 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.
Virtual Classroom Course agenda
Session 1:
Equity Primary Market Basics and Introduction to Secondary Market
22 June 2021 09:30- 12:30
Introduction and course objectives
Development and role of the London Stock Exchange
– Putting London Stock Exchange Group into context
– Key functions of a stock exchange: Primary & Secondary markets
Primary market
– How and why do companies issue equity
– Comparison of key features of Main Market & AIM
Group activity: case studies – consider which market is most suitable
Dissemination of regulatory information
– Continuing obligations to disclose information
– RIS process/role of RNS
– How does this impact secondary market?
Introducing secondary market
– Trading ‘On Exchange’
– Liquidity
– Understanding the key market participants
Summary/key learning points/Q&A
Session 2:
Secondary Market trading on ‘SETS’ (Electronic Trading)
23 June 2021 09:30- 12:30
Secondary market trading services
– SETS order book trading
– IOB
– Electronic order types:
- Limit order
- Market order
- iceberg order
– Order book functionality
– Trading rules
Group activity: order book trading worked examples
Secondary Markets
– Interruptions to trading
– Electronic auction process
– How closing prices are determined
– FTSE 100 competition results
Summary/key learning points/Q&A
Session 3:
Secondary Market trading on ‘SETSqx’ and “Off-Book” trading including Market Making by telephone
24 June 2021 09:30- 12:30
Secondary Markets
– Dark pools of liquidity – how do they differ from SETS trading?
– Instruments traded ‘On Exchange’: overview from shares to Depositary Receipts and covered warrants
Secondary Markets
– Market Making obligations
– SETSqx trading service for less liquid securities
– Trading away from the order book including RSPs
Group activity: market-making in practice
Membership of London Stock Exchange
– Becoming a member
– Membership obligations
– Trading connectivity
Summary/key learning points/Q&A
Session 4:
Market Supervision, Trade Reporting and Basics of Post Trade (Clearing & Settlement)
25 June 2021 09:30- 12:30
Market supervision
– Market monitoring
– Market abuse
Trade reporting & trade publication
– Purpose of trade reporting
– Reporting responsibility
– Transaction reporting
Post trade processing
– Clearing
– Settlement
– Role of the central counterparty (CCP)
– How CCP manages risk
Group activity: team quiz
Summary/key learning points/Q&A
"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."
"Excellent course."
"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."