This graduate-level course provides an overview of equity investments and an introduction to modern trading strategies, preparing students to understand and navigate today’s fast-paced equity markets. This course begins with an introduction to the structure and function of the equity capital markets, exploring how equities are issued, traded, and priced. Students examine key elements of market organization and structure, including order types, trading venues, and regulatory frameworks that shape market behaviour.

A central component of the course focuses on the mechanisms of price discovery, highlighting how information is incorporated into market prices through trading activity. Students also explore the distinctions between agency trading and liability (principal) trading, gaining insight into the roles of brokers, dealers, and market makers, and the strategies they employ to manage execution quality, risk, and market impact.

Balancing theory with applied learning, the course is anchored by extensive hands-on experience. Through access to a state-of-the-art financial and trading laboratory, students engage with a real-time market simulation platform, allowing them to execute trades, test strategies, and observe market dynamics as they unfold. This practical exposure reinforces course concepts and equips students with the skills and judgment essential for careers in trading, equity research, and investment management.