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Contributor: IEX

Level: Beginner

This course covers the basics of U.S. exchanges and the rules that govern U.S. equities trading.
Presented by IEX, it uses The Investors Exchange as an example for what happens to your order when it gets sent to a stock exchange.

About IEX Group, Inc.
IEX is a technology company committed to raising the bar for performance, fairness and
transparency. In 2016, we launched the Investors Exchange, a stock exchange working
to protect investors. Since then, the Investors Exchange has grown to be one of the
largest exchange operators globally, by notional value traded. To learn more about the
exchange and other IEX businesses visit or search IEX.

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Lesson: #1 The Rulebook and the Regulators

This lesson covers the basics of the U.S. equities regulatory landscape, including the purpose of the stock market, the regulators, and key regulations and legislation.

Lesson: #2 The Playing Field & Referees: Exchanges and other Trading Venues

This lesson covers U.S. stock exchanges, alternative trading systems, and internalization.

Lesson: #3 The Ball: Publicly-Listed Stocks

This lesson covers what it means to be publicly traded and the responsibilities of a listings exchange, including trading on multiple venues and the responsibilities of a listing exchange (auctions, surveillance, service).

Lesson: #4 The Players: Broker-Dealers and Investors

This lesson covers the types and responsibilities of brokers and investors.

Lesson: #5 The Plays: Order Types and Algorithms

This lesson covers the speed of trading in the market today, basic order types, and an introduction to algorithmic trading.

Lesson: #6 Instant Replay: Tracking an order from start to finish

This lesson shows how a sample order can be executed on an exchange.

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