Market Structure
Exchanges, market makers, liquidity, settlement, and how trades actually happen.
intermediateMarket StructurePremium
What Is DRS?
A clear, balanced guide to the Direct Registration System: how shares are normally held in street name, what it means to register directly in your own name, the genuine benefits and real trade-offs, and how to think about it.
intermediateMarket StructurePremium
What Is Market Structure?
A guide to the hidden plumbing of the markets: the players, how a trade really travels from your tap to settlement, what the order book and liquidity mean, lit venues versus dark pools, and why it all affects the price you get.
Which markets are you learning about?
We'll tailor the examples, currency and account types to your region. You can change this any time from the footer.