Learn key concepts for evaluating electronic market quality, how trading algorithms work, and the hype around high-frequency trading and dark markets. In this course, you will learn ways in which technology has changed how financial markets and institutions function. Every part of the financial value chain is being “disrupted” by nimble technology-based innovators. Where personal relationships used to determine success and failure, the ability to process and act on massive amounts of data is taking over.
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Securities trading and securities issuance, typically the turf of large institutions, is being taken over by technology. High frequency and algorithmic trading take advantage of fast access to information and technology to trade in milliseconds. Financial market operators have morphed into pure technology firms and data providers.
Technology and financial innovations can be used for good or not so good purposes. For instance, it can be used to exploit the information of less sophisticated investors, or to provide them with liquidity. The course will study both the good and bad, regulatory aspects, and ethical considerations.
All these aspects are changing the skills required to be successful in digital capital markets. We will also cover how finance has changed and is changing, the skills required to be successful and what the future may bring. Where possible we will link new phenomena to classical finance theory and highlight where predictions and reality have diverged.
An introduction to technology in capital markets, the course is taught by a world-class instructor, actively involved in academic and policy research and training the next generation of traders. This course will prepare students from many backgrounds for careers in financial markets and financial market technology.
What you'll learn
After completing this course, learners will be able to
- analyze the ways in which technology is re-shaping how assets are traded.
- recommend how machine learning and data science can be applied to solving financial trading problems.
- design a strategy to evaluate the quality of electronic markets.
- assess the importance of intermediaries, investors, regulators, and market operators in the functioning of digital capital markets.
