Securities Trading: Principles and Procedures

Joel Hasbrouck

January 2, 2023  

Securities Trading: Principles and Procedures (STPP) is a draft manuscript that grew out of my teaching notes for my undergraduate microstructure course. The audience is upper level finance and information technology students who are aiming at positions in areas related to the securities markets (traditional sales-and-trading, but also fintech and litigation support).

The course covers our basic trading mechanisms (limit order books, auctions, dealer markets). It has a high institutional/regulatory content (mostly, but not exclusively, US).

These notes are copyrighted, and I reserve all rights to use and reproduction. If you'd like to distribute them in class, please drop me an email. If you'd simply like to have them available online, you can link to this page or use the links below.

The current draft is STPPms13c.pdf (Nov 21, 2022)

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