Financial Markets

  1. Market Structure and Trading Mechanics
    1. Order Types and Instructions
      1. Market Orders
        1. Immediate Execution
          1. Price Uncertainty
          2. Limit Orders
            1. Price Specification
              1. Execution Conditions
              2. Stop Orders
                1. Stop-Loss Orders
                  1. Stop-Limit Orders
                  2. Time-in-Force Instructions
                    1. Day Orders
                      1. Good-Till-Canceled Orders
                        1. Fill-or-Kill Orders
                          1. Immediate-or-Cancel Orders
                        2. Market Organization Models
                          1. Quote-Driven Markets
                            1. Dealer Market Structure
                              1. Market Maker Roles
                                1. Bid-Ask Spread Determination
                                2. Order-Driven Markets
                                  1. Auction Market Structure
                                    1. Order Book Management
                                      1. Price Discovery Process
                                      2. Brokered Markets
                                        1. Broker Intermediation
                                          1. Block Trading Networks
                                        2. Trading Systems and Technology
                                          1. Electronic Trading Systems
                                            1. Order Matching Algorithms
                                              1. Latency Considerations
                                              2. Algorithmic Trading
                                                1. Trading Algorithm Types
                                                  1. Market Impact
                                                  2. High-Frequency Trading
                                                    1. Speed Advantages
                                                      1. Market Making Strategies
                                                        1. Regulatory Concerns
                                                      2. Clearing and Settlement
                                                        1. Clearing Process
                                                          1. Trade Confirmation
                                                            1. Netting Procedures
                                                              1. Risk Management
                                                              2. Settlement Process
                                                                1. Settlement Cycles
                                                                  1. Delivery vs. Payment
                                                                    1. Settlement Risk
                                                                    2. Central Counterparties
                                                                      1. Risk Mitigation
                                                                        1. Margin Requirements
                                                                          1. Default Management

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                                                                      12. Derivatives Markets

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                                                                      14. Market Participants and Their Roles