(in Polish) Giełda i jej otoczenie 2600-IADzGJOkf
1. The Stock Exchange - Introduction
1.1. Definitions and Financial Instruments
1.2. Operation and Types of Stock Exchanges
1.3. The Stock Exchange and the OTC Market
1.4. Capitalization, Operators, Country Shares
1.5. Leading Stock Exchanges in Various Regions
1.6. Initial Public Offerings (IPOs)
1.7. Leading Stock Exchanges, Number and Value of IPOs
1.8. The Largest IPOs in the World
1.9. Selected Stock Exchange Indices
1.10. Stock Market Concentration
2. Regulatory Framework
2.1. EU Regulations on the Regulated and Unregulated Market
2.2. The Stock Exchange, Conditions of Admission
2.3. Organized Forms of Over-the-Counter Trading
2.4. Money Market Instruments and Institutions
2.5. Supervision of the Financial and Money Market
2.6. Scope of Operations and Competencies of the Central Bank
2.7. Powers and Responsibilities of the Polish Financial Supervision Authority
2.8. Derivatives Market Oversight
2.9. KDPW Activities
2.10. Central Counterpart Principle
3. Stock Exchange Market
3.1. Principles for Listing Listed Companies
3.2. Orders Featured by the Stock Exchange
3.3. Standard Brokerage Orders
3.4. Market Makers
3.5. Block Trades
3.6. Trading Session Procedures
3.7. Opening and Closing Fixes
3.8. Trading Liquidity Regulations (Fixed and Sliding Spreads)
3.9. Short Selling on the WSE and Other Exchanges
3.10. Remote Members and Their Importance
3.11. Algorithmic Orders and HFT
3.12. Trading Session Stages
3.13. Session Reports
3.14. Securities Flow Recordings
3.15. Cash Flow Recordings
3.16. Clearing Members and Others
3.17. Forms and Conditions of Trading (Price and Order Driving)
4. Markets Appearing on the Stock Exchange and Their Significance
4.1. British AIM
4.2. New Connect Market
4.3. Catalyst and Bond Spot Market
4.4. GlobalConnect Market
4.5. Polish Power Exchange
4.6. ETF/ETC/ETN
4.7. Stock Exchange Indices in Poland
5. Investors and Information
5.1. Brokerage House
5.2. Internal Organization
5.3. Settlement of Investor Operations
5.4. Brokerage Margins
5.5. Broker Liability and Prohibited Transactions
5.6. Sources of Information for Investors
5.7. Company Disclosure Obligations
5.8. LSEG Workspace and Bloomberg
5.9. The Impact of Global Stock Exchanges on Polish Company Prices
5.10. Regulations on Rumors and Insider Trading
5.11. Corporate Event Information System
5.12. Financial Market Mistakes and Myths
5.13. Real and Illusory Investor Advantages
5.14. Risk Diversification and Its Causes
Course coordinators
Type of course
Mode
Learning outcomes
After completing the course, the student:
In terms of knowledge, the student knows and understands:
1. in-depth research methodology and terminology within the discipline of economics and finance and in complementary disciplines (management and quality studies, legal studies), in particular terminology relating to the stock exchange, related markets, and instruments traded on the stock exchange (K_W01)
2. in-depth principles, procedures, and practices regarding investments and data analysis, including the principles of organizing stock exchange trading, the course of a trading session, quotation systems and types of orders, as well as the principles of clearing and settlement of transactions and the organization of a brokerage house (K_W02)
3. in-depth economic theories and models relating to the functioning of organizations and the entire economy, in particular those related to financial investments and data analysis, including the mechanisms of operation of the regulated market and alternative trading systems (NewConnect, Catalyst, Polish Power Exchange) and the construction of stock exchange indices (K_W03)
4. complex technological and social processes and phenomena, Political, legal, economic, and ecological issues, including the fundamental dilemmas of modern civilization, and their impact on financial decisions in organizations and the functioning of the entire economy—with particular emphasis on the role of financial market supervisors (the central bank, the Polish Financial Supervision Authority) and transaction settlement institutions (the National Depository for Securities) and their impact on the situation of stock market investors (K_W05)
In terms of skills, the graduate is able to:
5. Use the theory of the discipline of economics and finance and complementary disciplines (management and quality sciences, legal sciences) to recognize, diagnose, and solve problems related to financial decisions in the field of investment and data analysis, including decisions made by stock market participants (K_U01)
6. Correctly interpret complex technological, social, political, legal, economic, and ecological processes and phenomena, and assess their impact on financial decisions in organizations, the functioning of organizations, and the entire economy, including assessing the impact of corporate events, market information, and the economic situation of global stock exchanges on the valuations of instruments listed on the Warsaw Stock Exchange (K_U02)
7. Use the appropriate selection of sources and adapt Use existing or develop new methods and tools, including advanced information and communication techniques, to recognize, diagnose, and solve problems related to financial decisions in the field of investment and data analysis—using current and periodic company reports, stock market statistics, and professional news services (K_U03).
8. Propose solutions to tasks set in unpredictable conditions, particularly in situations of changing stock market conditions, increased market volatility, and incomplete information (K_U05).
9. Develop the ability to self-educate, improve acquired qualifications, and support others in this area, including independently updating knowledge of regulatory, organizational, and technological changes taking place in the stock market (K_U09).
In terms of social competences, the candidate is ready to:
10. Assess and critically approach complex situations and phenomena related to financial investments and data analysis within the organization, including critically verifying financial market myths and distinguishing between real and illusory investor advantages. (K_K01)
11. Recognizing the importance and value of scientific knowledge in the context of solving complex investment and data analysis problems within an organization, as well as seeking expert opinions in this process (K_K02)
12. Initiating activities that benefit the community, society, or the environment, and initiating actions for the common good, including compliance with the principles of fair trading, information transparency, and preventing the use of confidential information (K_K03)
Assessment criteria
- written test (open and closed questions) in person,
- active participation in classes (exercises, case studies).
Practical placement
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Bibliography
Czekaj J., Rynki, instrumenty i instytucje finansowe, Wydawnictwo Naukowe PWN, 2017
Sopoćko A., Rynkowe instrumenty finansowe, Wydawnictwo Naukowe PWN, Warszawa 2010.
Płókarz R. (2013). Globalne rynki finansowe: praktyka funkcjonowania, Wydawnictwo Naukowe PWN, Warszawa.
Schiller R.J Animal Spirits. How Human Psychology Drives Economy, Princeton 2009
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Term 2026Z:
Czekaj J., Rynki, instrumenty i instytucje finansowe, Wydawnictwo Naukowe PWN, 2017 |
Notes
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Term 2026Z:
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