Lesson 10: Trade Lifecycle

The purpose of this lesson is to learn the basics of how financial assets are traded in capital markets. The material covered in this lesson are prerequisites for subsequent lessons on asset management and investment banking. Concepts covered include
• difference between trade execution, clearing and settlement
• how trades are executed
o exchange traded
o over the counter
o primary versus secondary trades
o algorithmic trading
• how trades are settled
o post trade lifecycle
o role of custodians and central securities depositories
o role of clearing house and central counterparty
• different between buy sell trades and securities financing
• securities financing
o repos
o securities lending
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