The stock exchange and its surroundings 2600-MSFRdz1rkdiGJO
1. EU regulations concerning the regulated and non-regulated market
- Stock exchange, conditions admitted
- Organized forms of OTC trading
- Instruments of money market trading institutions
2. Supervision over the financial and money market
- The scope of activities and powers of the Central Bank
- Powers and tasks of the Polish Financial Supervision Authority
- Controlling the derivatives market
3. Stock market
- Rules for listing listed companies
- Orders distinguished by the exchange
- Standard brokerage orders
- Market makers
- Package transactions
4. The course of the trading session
- Fixings for opening and closing
- Regulating the smoothness of trading (fixed and mobile forks)
- Short selling on the WSE and other exchanges
- Remote members and their importance
- Algorithmic orders and the HFT phenomenon
- Stages of a trading session
5. Operation of KDPW
- Central Counter Partner principle
- reports on the course of the session
- recordings of securities flows
- recording of cash flows
- clearing members and others
6. Markets at the stock exchange and their importance
- British AIM
- New Connect market
- Catalyst and Bond Spot market
- Forms and conditions of the organization of trading (price and order driving)
7. Interbank market
- Instruments and trade sizes
- Central bank as an agent for issuing Treasury securities
- REPO and RREPO operations
- Money voucher and treasury bill
- Operations prohibited
8. Brokerage house
- Internal organization
- Settlement of investors' operations
- Brokerage margins
- Broker liability and prohibited transactions
9. Information sources for investors
- Companies' disclosure obligations
- Reuters and Bloomberg
- The impact of world stock exchanges on the prices of Polish companies
- Regulations on rumors and insider trading
- Information system about company events
10. Errors and myths of the financial market
- Real and illusory advantages of investors
- Differentiation of risk and its causes
- The role of blue chips in the stock market
- Manipulation-prone areas
Type of course
Mode
Learning outcomes
Student after completing the course:
In terms of knowledge:
Knows and understands in-depth research methodology and terminology in the field of management and quality science and in complementary disciplines (economics and finance, legal sciences), in particular in the area of financial management and accounting (K_W01)
Knows and understands in-depth the principles, procedures and practices regarding financial management in organizations, accounting, management of financial institutions and strategies of financial institutions (K_W02)
Knows and understands in-depth economic theories and models regarding the functioning of organizations and the entire economy (K_W03)
Knows and understands in-depth legal regulations regarding the functioning of the organization and the entire economy (K_W04)
Knows and understands complex technological, social, political, legal, economic and ecological processes and phenomena and their impact on financial decisions in organizations, the functioning of the organization and the entire economy, including the principles of protection of industrial property and copyright (K_W05)
Knows and understands the principles of creating and developing various forms of entrepreneurship in the national and global dimensions (K_W06)
In terms of skills:
Is able to use the theory of the discipline of management and quality science and complementary sciences (economics and finance, legal sciences) to recognize, diagnose and solve problems related to financial decisions in organizations and management of financial institutions, using the appropriate selection of sources and adapting existing or developing new methods ( K_U01)
Is able to correctly interpret complex technological, social, political, legal, economic and ecological processes and phenomena and their impact on financial decisions in organizations, the functioning of the organization and the entire economy, using the appropriate selection of sources (K_U02)
Is able to independently and collectively prepare analyses, diagnoses and reports on complex and unusual problems related to financial management in organizations, accounting, management of financial institutions and strategies of financial institutions, and present them communicatively, also in English - using IT and communication tools (K_U03)
In terms of attitudes:
Is ready to assess and critically approach complex situations and phenomena related to financial management in organizations, accounting, management of financial institutions and strategists of financial institutions (K_K01)
Is ready to think and act in an entrepreneurial way in the national and global dimensions (K_K02)
Is ready to comply with and develop professional ethical standards (K_K02).
Assessment criteria
Exam: written (open and closed questions) - pass 60%
Passing: 60% of the grade; written research papers - 40% of the grade
Bibliography
Basic source literature:
Czekaj J., Markets, instruments and financial institutions, PWN, 2017
Complementary source literature:
Sopoćko A., Market-based financial instruments, PWN, Warsaw 2010.
Płókarz R. (2013), Global financial markets: operating practice, PWN, Warsaw.
Schiller R.J Animal Spirits. How Human Psychology Drives Economy, Princeton 2009