Macquarie University

Raising Capital in Global Markets - MGSM849

This unit is subject to a quota. Limited places are available. Please refer to the Faculty for further information

This unit is concerned with the way in which capital is raised by corporations in the world’s major markets. This includes a detailed examination of IPO’s and equity offerings which can be undertaken. The rules and regulations surrounding the issue of various forms of capital will be examined. The three largest equities markets in each of the Asian, European and American time-zones will be examined, namely HK, UK and USA capital markets.

This unit is also concerned with the processes which turn orders into trades in securities markets, and the forces which mould and affect both order flow and order execution. The unit is an introduction to some fundamental market design and structure ideas. At the end of the unit, students should be able to understand (1) how the international markets for various securities including foreign exchange, swaps, bonds and equities are organised, (2) how trading is conducted in these markets and how these transactions are cleared, (3) how the markets are regulated, if they are supervised and what risks different counterparties face in these markets. The unit aims to equip students to independently analyse international investment and financing alternatives and to estimate expected returns and costs taking into account liquidity risk, price volatility and credit risk.