An in-depth guide on the fixed-income marketplace, the rationale for issuing debt securities, different types of fixed-income securities, their characteristics, issuers, and taxation.
Explore the rationale behind the issuance of fixed-income securities by corporations and governments, including financing operations, growth, and leveraging finances.
Learn about the intricacies of fixed-income securities, including risks, rewards, bond yields, pricing, and their relationship with interest rates. Understand the secondary market and factors affecting bond prices.
In-depth information on the discount rate in bond valuation, its relevance, calculation, and distinction from other rates such as the yield and coupon rate.
Learn how to calculate the fair price of a bond through present value calculations. This guide offers step-by-step instructions and formulas to determine the value of a bond's principal and coupon payments.
Learn how to calculate the yield on a Treasury Bill (T-bill) which trades at a discount and matures at par. This guide provides the formula, detailed explanations, and an example calculation.
Understand the factors influencing the term structure of interest rates and the shape of the yield curve through market forces, theories, and key economic concepts.
Understand the components and determinants of the real rate of return, how it interacts with the nominal rate, and its implications for investors and businesses in the context of Canadian Securities Course certification.
Understand the significance of the yield curve in bond markets, including the key theories explaining its shape: expectations theory, liquidity preference theory, and market segmentation theory.
Explore the fundamental properties of bond pricing and understand how factors like interest rates, maturity, coupon rates, and yield affect bond prices. Learn essential calculations and the use of financial calculators for accurate pricing.
Understand the intricate relationship between bond prices and interest rates, including how bond yields are impacted and examples with calculations. Learn to master bond investment strategies in varying interest rate environments.
Explore the impact of bond maturity on price volatility, illustrating why longer-term bonds are more volatile than shorter-term bonds. Learn with examples and detailed tables.
Explore the nuances of how coupon rates affect bond price volatility with detailed explanations, FAQs, formulas, charts, and a comprehensive glossary of terms.
Understand the relative impact of yield changes on bond pricing. This section details how percentage changes in yield affect bond prices more significantly when rates are lower and explains the asymmetrical effects of yield increases and decreases.
Understand duration as a measure of bond price volatility, and how it can help investors make informed decisions. Delve into bond value changes, interest rate impacts, coupon rates, and time to maturity factors. Includes examples, table analyses, and further reading references.
Understand the sell side of fixed-income trading, including the roles of investment bankers, traders, and sales representatives. Learn about their responsibilities and how they contribute to the financial markets.
Explore the intricate process of buying bonds through an investment dealer, covering both large institutional and smaller firms, role of inter-dealer brokers, and essential techniques for efficient bond trading.
Learn the comprehensive mechanics of non-electronic securities trade, including trade tickets, clearing and settlement, calculating accrued interest, and understanding bond indexes as described in the Canadian Securities Course.
Learn about the key features, benefits, and risks associated with equity securities, including common and preferred shares. This section covers the nuances and impacts of stock processes and the relevance of various stock indexes.
Comprehensive guide to common shares, covering features, benefits, risks, stock splits, consolidations, key terms, and more for the Canadian Securities Course.
Understanding the benefits and risks of common share ownership is crucial for investors seeking to maximize returns and minimize risks. This guide explores key aspects such as capital appreciation, voting privileges, and limited liability, alongside potential risks like market volatility and dividend uncertainty.
Explore the essential details about dividends in equity securities, including dividend policy, payment methods, ex-dividend dates, dividend reinvestment plans, and stock dividends.
This guide explores the rights of shareholders in the context of voting privileges, focusing on various types of shares, including restricted shares, and their impact on shareholders' participation in corporate governance.
Understand the basics and strategic importance of stock splits and reverse stock splits (consolidations) for publicly-traded companies. Learn how these actions can influence share prices and investor perception.
Understanding the preferred shareholder's claim to assets, their priority status over common shares in the event of bankruptcy, and their entitlement to fixed dividend payments.
Learn about the various less common types of preferred shares such as participating preferred shares and deferred preferred shares, including their features, advantages, and practical applications in investment strategies.
This section explores the reasons why investors, including both individual and institutional investors, buy preferred shares, highlighting benefits such as dividend tax credits and preferential tax treatment.
Learn about the key features of preferred shares including cumulative and non-cumulative features, callable and non-callable features, voting privileges, and special funds like purchase and sinking funds.
Learn all about Retractable Preferred Shares, their characteristics, and examples. Understand key features that affect their value and how they compare to other financial instruments in volatile market conditions.
A comprehensive guide to understanding floating-rate preferred shares, including their market conditions, examples, characteristics, and implications for buyers.
An in-depth overview of major U.S. stock market indexes, including the Dow Jones Industrial Average and the S&P 500. Detailed explanations of their composition, calculations, and their usage as market performance indicators.
An in-depth guide covering various significant U.S. stock market indexes including NYSE Composite, NYSE American, NASDAQ Composite Index, and Value Line Composite Index.
This section provides a comprehensive understanding of various international market indexes and averages, which are crucial for investors looking to diversify their portfolios globally.
An introduction to equity transactions, covering the distinctions between cash accounts and margin accounts, long and short positions, margin account transactions, and trading and settlement procedures.
Understand the mechanical processes involved in acquiring, holding, and selling investments including equity transactions such as margin trading, short selling, and the variety of buy and sell orders investors use to trade stocks.
In this section, we delve into the fundamental differences between cash accounts and margin accounts in securities transactions, clarifying how each operates and the key considerations for investors.
Explore the fundamental concepts of long and short positions in the stock market, including detailed examples and guidance for Canadian Securities Course exam preparation.
Learn about margin accounts used for long and short margin positions, how to interpret the impact of price changes, and the process involving interest calculations on margin loans.
A comprehensive guide to understanding long margin accounts, including regulations, examples, risks, and frequently asked questions as per IIROC guidelines.
Comprehensive guide to short margin accounts including definitions, examples, and margin requirements. Learn about short selling, its risks, profit calculations, and industry practices.
Understanding the various risks associated with short selling, including borrowing shares, maintaining adequate margin, liability for dividends, buy-in requirements, volatile price action, and regulatory risk.
Comprehensive overview of trading and settlement procedures for equity transactions, focusing on the roles of investment dealers, trade lifecycle, settlement timelines, and best practices.
Detailed guide covering the trading procedures within the Canadian Securities Market, including the steps involved in retail securities transactions, and settlement procedures. Discover important concepts, detailed steps, and common scenarios in trading stocks, bonds, options, and other securities.
Understanding how securities are bought and sold is fundamental for acting as a proficient investment advisor. This section provides a comprehensive overview of various types of buy and sell orders, price restrictions, special instructions, and the dynamics of the bid-ask spread.
A comprehensive summary of the key concepts covered in chapter 9.6 of the Canadian Securities Course, focusing on equity transactions, client account types, margin positions, and types of buy and sell orders.
Discover the essentials of derivatives in this Canadian Securities Course chapter. Understand the role and types of derivatives, underlying assets, and market participants.
Explore the phenomenal growth and intricacies of various derivative instruments. Learn about the impact of market volatility, financial deregulation, and advances in technology on derivatives. Understand the role of derivatives in portfolios for institutional and retail investors.
Understand the significant role derivatives play in financial markets, their classification, uses, and the differences between over-the-counter and exchange-traded derivatives.
Explore the fundamental features common to all derivatives, including contractual agreements, pricing, expiration dates, and the zero-sum nature. Understand the essentials of forwards and options in derivative trading.
Learn key concepts about derivative markets including their structure, types, features, and differences between the over-the-counter (OTC) market and exchange-traded derivatives.
Understand the key differences between exchange-traded and over-the-counter (OTC) derivatives markets, including standardization, liquidity, privacy, and default risk.
Comprehensive guide on the various types of underlying assets in derivative contracts. Learn about commodities, financial assets, and the over-the-counter (OTC) markets.
An in-depth guide on commodities, their types, use in futures and options, and the factors influencing their prices. Learn more about the different categories, key terminologies, and their significance in financial markets.
A comprehensive guide on the explosive growth of financial derivatives, driven by factors like volatile interest rates, financial deregulation, globalization, and advances in information technology. This section delves into the most commonly used financial assets, such as equities, interest rates, and currencies.
Learn about the various market participants who use derivatives, their roles, and how they utilize these financial instruments for speculation and risk management.
Detailed guide on institutional investors and their use of derivatives including strategies like hedging, market entry and exit, arbitrage, and yield enhancement.
Learn about the role of derivative dealers in both exchange-traded and OTC markets in Canada, including the functions they serve and the key types of institutions involved.
Gain a thorough understanding of essential options terminology including strike price, option premium, expiration date, trading unit, and other key concepts.
Understand the various option strategies used by individual and institutional investors, including detailed examples and calculations for trading call and put options on XYZ Inc. Learn speculative and risk management approaches, and the potential outcomes of different trading strategies.
Comprehensive guide distinguishing between forwards and futures contracts, used strategies, and categorization of underlying assets for investors preparing for the Canadian Securities Course certification exam.
Comprehensive guide on key terms and definitions in futures contracts, including concepts of margin requirements, marking to market, and cash-settled futures within the context of the Canadian Securities Course.
This chapter provides a detailed overview of the Montréal Exchange, including the listing of index futures, Government of Canada bonds, bankers’ acceptances, and the 30-day overnight repo rate.
Explore key futures strategies for investors including speculative strategies and risk management techniques. Understand the benefits and risks associated with buying and selling futures.
Understand how corporations utilize futures to manage risks, gain insights on practical examples, and discern differences and similarities between forward and futures contracts.
Learn about rights and warrants and how they are used to raise capital in the Canadian securities market. Understand their features, benefits, and intrinsic value.
A comprehensive guide on rights offers, intrinsic value of rights during ex-rights and cum-rights periods, and how rights are traded on stock exchanges.
Learn everything about warrants in this comprehensive guide: their characteristics, valuation, and advantages, along with essential definitions and key takeaways.