Develop deep understanding of the pivotal roles played by market markers and other liquidity providers across equity & debt capital markets.
Key Modules:
• Evolution of Market Making & Liquidity Provision since the GFC
• Market Making & Liquidity Prior to 2008
• Principal Changes to Capital Market Making & Liquidity Provision Since 2008
• Mechanics
o Quote Driven Markets
o Order Driven Markets
• Contemporary Capital Market Liquidity Ecosystems
• Principal Players in Contemporary Capital Markets
• Key roles in Equity & Debt Capital Markets
• Investment Banks
• Institutional Investors
• Brokers
• Sources & Sinks of Liquidity Across Capital Markets
• The Business of Market Making in Contemporary Capital Markets
Equity
• Retail
• Institutional
o Dynamics of Institutional Ticket Size Transactions
o Dark Pools
Debt
• Primary Markets
• Secondary Markets
Sukuk
Dealer Balance Sheet Management
• Liquidity
• Funding
• Capital
Market Making & Liquidity Provision in Contemporary Debt Capital Markets
• Overview: Contemporary Debt Capital Market Structures
• Government Security Dealers & Primary Markets
• STRIPS markets
• Corporate Bond Market Making & Liquidity
• Role of Trading Platforms
Repo Markets
• Liquidity
• Funding
• Short selling facilitation