This training is offered in the form of distance learning. More information

Description

Programme

Based on the ISO definition of equities specifying that an equity instrument is a financial instrument representing an ownership interest in an entity or pool of assets, the content of this module on equities focuses on:

  • Main characteristics of equities (based on ISO 10962)
    • Types of equities - Common/ordinary shares, preferred/preference shares, common/ordinary convertible shares, preferred/preference convertible shares, limited partnership shares, depositary receipts on equities, structured instruments, others
    • Attributes of equities - Voting rights, ownership/transfer/sale restrictions, income, payment status, form (bearer/registered)
    • Pricing of equities - Exchange-traded equities, OTC equities, sources of prices, order-driven markets, quote- driven markets
    • Factors influencing the performance of an equity - Supply/demand, earnings, volatility, liquidity, inflation, impact of corporate actions on price, information about the issuer
    • Costs associated with transactions and services involving equities - Brokerage, exchange fees, transaction fees, custody fees
    • Structure of the market for equities
    • Types of markets (regulated, OTC, MTF, (OTF), SI) - Equities traded on exchanges, equities traded OTC, equities on MTF, (OTF), SI, crossing networks
    • Primary and secondary markets - Initial public offerings (“IPO”); Secondary market trading for equities on exchanges, MTF, (OTF), SI, OTC, crossing networks, high frequency trading; depository receipts; private equity
    • Market players - Primary market: Underwriters, lead managers, syndicate members, listing agents, CSDs/ICSDs, exchanges; Secondary market: Brokers/dealers, regulated markets (e.g., exchanges), OTC, MTF, (OTF), SI, paying agents, fiscal agents, CSDs/ICSDs, custodians, depositaries; private equity companies
  • Financial instruments as investments
    • Market practice - Primary market - IPOs on exchanges, CSDs/ICSDs; Secondary market - On regulated markets (e.g., exchanges), OTC, MTF, (OTF), SI, OTC; transaction chain of securities processing; short selling, lending/borrowing equities, CSDs/ICSDs, custody, corporate actions
    • Main risks - Market risk, currency risk, liquidity risk, operational risk
    • Tax aspects - Withholding tax, capital gains tax, transaction taxes, tax reclamation
    • Market forces that impact performance - Industry investor sentiment, inflation, currency rates
    • Understanding instrument’s performance - Market perspective, investor sentiment, volatility, liquidity
    • Documentation related to the instrument - Prospectus, annual reports, shareholder documentation, press coverage
Target Audience

The persons concerned by the Training Programme are all persons placed under the authority of a professional (or acting on his behalf) subject to prudential supervision by the CSSF, i.e. individuals providing investment advice (“Advisory profile”) or information (“Information profile”) on financial instruments, investment services or ancillary services to clients.

Speakers

Experienced professional specialists selected on the basis of their in-depth knowledge of markets and financial products under MiFID rules I and II, and ESMA criteria.

Language

English


Conditions

Course Material

Please note that for environmental reasons no paper version of the training material will be provided for your training. The course material can be downloaded free of charge via your portal before the start of the course (download the Client Portal User’s Guide here). You will be able to view it on the screen of your mobile device or print it if necessary. If your registration has been made by a training manager of your company please contact him/her so that he/she can give you access to it or send it to you.

Certification

This module is part of the MiFID II Certification. For more details about this Certification, please click here.

Location
Virtual Classroom
Distance learning

Distance learning
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Sessions and schedules

Download the schedule (PDF)

  • Tue 19.04.2022

    08:30 to 12:30

    4H

    MiFID II: Equities

    Virtual Classroom
    Distance learning

  • Wed 20.04.2022

    08:30 to 12:30

    4H

    MiFID II: Equities

    Virtual Classroom
    Distance learning

Download the schedule (PDF)

  • Mon 10.10.2022

    08:30 to 12:30

    4H

    MiFID II: Equities

    Virtual Classroom
    Distance learning

  • Tue 11.10.2022

    08:30 to 12:30

    4H

    MiFID II: Equities

    Virtual Classroom
    Distance learning