Fin. Markets·Course
Financial Markets
Market infrastructure, clearing, brokers, regulation, compliance and asset management industry
Part of the Business & Economics track — finish it for a verifiable diploma →
§ 01 — Orientation
New here?
What you'll be able to do, who this is for, how long it takes, and where to begin.
By the end, you will be able to
- 01Map who's who in a market: exchanges, brokers, dealers, market-makers.
- 02Explain clearing, settlement, and custody end to end.
- 03Navigate financial regulation and compliance basics.
- 04Understand market-abuse rules and why they exist.
- 05See how the asset-management industry is structured.
Who this is for
How long it takes
- Quick orientationSkim the opening module and the cheatsheet to get the shape of it.~2 h
- Full read-throughRead every article once, in order.~6 h
- Mastery pathRead, take the quizzes, and space out your reviews.~3 weeks
- APA
Stoa. (2026). Financial Markets [Online course]. Stoa. https://stoa.school/course/financial-markets
- MLA
Stoa. “Financial Markets.” Stoa, 2026, https://stoa.school/course/financial-markets.
- Chicago
Stoa. “Financial Markets.” Stoa. Accessed September 1, 2026. https://stoa.school/course/financial-markets.
§ 02 — Curriculum
13 modules.
Each module is a small unit. Most read in sequence — but a determined reader can begin anywhere.
- M IStructure of Financial Markets and InfrastructureStructure of financial markets and infrastructure.7 articles
42 minBegin → - M IIClearing, Settlement, and CustodyClearing, settlement, and custody.6 articles
36 minBegin → - M IIIBrokers, Dealers, and Market MakersBrokers, dealers, and market makers.5 articles
30 minBegin → - M IVRegulation and RegulatorsRegulation and regulators.4 articles
24 minBegin → - M VCompliance and Market AbuseCompliance and Market Abuse4 articles
24 minBegin → - M VIStructure of the Asset Management IndustryStructure of the Asset Management Industry4 articles
24 minBegin → - M VIITypes of Asset Management InstitutionsTypes of Asset Management Institutions5 articles
30 minBegin → - M VIIIBusiness Models and IncentivesBusiness Models and Incentives5 articles
30 minBegin → - M IXCurrent Trends in Financial MarketsCurrent Trends in Financial Markets4 articles
24 minBegin → - M XDerivatives and HedgingDerivatives and Hedging5 articles
30 minBegin → - M XIBankingBanking4 articles
24 minBegin → - M XIICommodity MarketsCommodity Markets4 articles
24 minBegin → - M XIIICredit MarketsCredit Markets4 articles
24 minBegin →
§ 03 — Learning outcomes
4 outcomes.
Understand the structure of financial markets, the roles of key participants (exchanges, brokers, dealers, market makers), and trading mechanisms.
Explain clearing, settlement, and custody processes, and understand the role of central counterparties and depositories.
Navigate the framework of financial regulation, understand compliance requirements, and the rules governing market abuse.
Analyze the structure of the asset management industry, types of institutions, business models, and current trends.
§ 04 — Practices