Within this course you will learn about price formation and liquidity in securities markets. You will discover the determinants of market depth and security trading. In particular, the course focuses on price formation and liquidity in securities markets. The main issues covered are how to measure trading costs; how security prices, their liquidity and speed of price discovery are jointly determined, and how order flow affects prices; what are the determinants of market depth; how security trading is organized and regulated and how it has been reshaped by algorithmic and high frequency trading; how the organization of security trading affects trading costs and informational efficiency.
Market Microstructure
Ce cours fait partie de plusieurs programmes.
Instructeur : Marco Pagano
Inclus avec
Expérience recommandée
Ce que vous apprendrez
security market; trading; market liquidity and funding liquidity
Compétences que vous acquerrez
- Catégorie : Trading Strategy
- Catégorie : Financial Planning (Business)
- Catégorie : Financial Trading
- Catégorie : Business Transaction Management
- Catégorie : Capital Asset Pricing Models
Détails à connaître
Ajouter à votre profil LinkedIn
21 devoirs
Découvrez comment les employés des entreprises prestigieuses maîtrisent des compétences recherchées
Élaborez votre expertise du sujet
- Apprenez de nouveaux concepts auprès d'experts du secteur
- Acquérez une compréhension de base d'un sujet ou d'un outil
- Développez des compétences professionnelles avec des projets pratiques
- Obtenez un certificat professionnel partageable
Obtenez un certificat professionnel
Ajoutez cette qualification à votre profil LinkedIn ou à votre CV
Partagez-le sur les réseaux sociaux et dans votre évaluation de performance
Il y a 6 modules dans ce cours
This module presents the subject of the course and its main concepts: liquidity and price discovery, and basic notions of trading in securities markets.
Inclus
21 vidéos5 lectures3 devoirs
In this week you will learn that some trading costs are explicit, others implicit, and how to measure trading costs using different types of data. Furthermore, you will learn how to take the time dimension of trading into account.
Inclus
22 vidéos7 lectures6 devoirs
This module talks about price formation in markets with asymmetric information. You’ll understand why in these markets prices respond to the order flow and you’ll know how the informativeness of the order flow affects market liquidity and price discovery.
Inclus
16 vidéos4 lectures4 devoirs
In this week we’ll talk about frictions that contribute to the bid-ask spread and generate mean reversion in prices and you’ll learn about order processing costs. Moreover, you’ll know the imperfect competition among market makers and how inventory holding costs of risk-averse dealers.
Inclus
16 vidéos5 lectures3 devoirs
This week will explain how orders of different sizes have a different impact on prices and how price impact is an inverse measure of market depth. You’ll learn that depth is affected by order flow informativeness, market risk absorption capacity and competition between liquidity suppliers.
Inclus
17 vidéos4 lectures3 devoirs
By the end of this week, you will learn the fundamentals of algorithmic and high-frequency trading, their impact on market quality, and explore policies to mitigate trading speed effects.
Inclus
15 vidéos5 lectures2 devoirs
Instructeur
Offert par
Recommandé si vous êtes intéressé(e) par Finance
Corporate Finance Institute
New York Institute of Finance
University of Colorado Boulder
Coursera Project Network
Pour quelles raisons les étudiants sur Coursera nous choisissent-ils pour leur carrière ?
Ouvrez de nouvelles portes avec Coursera Plus
Accès illimité à 10,000+ cours de niveau international, projets pratiques et programmes de certification prêts à l'emploi - tous inclus dans votre abonnement.
Faites progresser votre carrière avec un diplôme en ligne
Obtenez un diplôme auprès d’universités de renommée mondiale - 100 % en ligne
Rejoignez plus de 3 400 entreprises mondiales qui ont choisi Coursera pour les affaires
Améliorez les compétences de vos employés pour exceller dans l’économie numérique
Foire Aux Questions
Access to lectures and assignments depends on your type of enrollment. If you take a course in audit mode, you will be able to see most course materials for free. To access graded assignments and to earn a Certificate, you will need to purchase the Certificate experience, during or after your audit. If you don't see the audit option:
The course may not offer an audit option. You can try a Free Trial instead, or apply for Financial Aid.
The course may offer 'Full Course, No Certificate' instead. This option lets you see all course materials, submit required assessments, and get a final grade. This also means that you will not be able to purchase a Certificate experience.
When you enroll in the course, you get access to all of the courses in the Specialization, and you earn a certificate when you complete the work. Your electronic Certificate will be added to your Accomplishments page - from there, you can print your Certificate or add it to your LinkedIn profile. If you only want to read and view the course content, you can audit the course for free.
If you subscribed, you get a 7-day free trial during which you can cancel at no penalty. After that, we don’t give refunds, but you can cancel your subscription at any time. See our full refund policy.