the mechanics of secondary market trading, outlining how order tickets transition from entry and execution to clearing. Broker-dealers operate either as brokers earning commissions or as dealers/market makers profiting from spreads, markups, and markdowns. Trading venues range from traditional physical locations like the NYSE, which relies on Designated Market Makers (DMMs) to maintain liquidity, to dealer-to-dealer networks such as Nasdaq and various Alternative Trading Systems. The text also explains specialized order types (including market, limit, and stop orders) alongside Regulation NMS rules designed to protect quotes and ensure fair execution. Finally, the material addresses prohibited practices like interpositioning and front-running, while summarizing regulatory guidelines such as the 5% Markup Policy and market-wide circuit breakers.
Real-world finance explained the way exams and real life actually test it. Ideal for the SIE, Series 7, Series 65/66, and anyone who wants to actually understand money—not just memorize buzzwords.
⚠️ Disclosure
This podcast is for educational purposes only and is not a recommendation to buy or sell any security. Opinions expressed are solely those of the host.
🚀 Go Deeper
Live classes, tutoring, practice questions, and bonus content:
Podden och tillhörande omslagsbild på den här sidan tillhör
capadvantage. Innehållet i podden är skapat av capadvantage och inte av,
eller tillsammans med, Poddtoppen.
