Academy / Beginner
## Why markets exist\n\nA market is just a place where a buyer and a seller agree on a price...
Curriculum
4 lessons
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1. What is a market? Preview
Video · 8:12
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1. What is a market? Preview
Video · 8:12
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2. Order books & matching
Video · 11:40
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2. Order books & matching
Video · 11:40
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3. Clearing & settlement (notes)
Document · 6 min read
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3. Clearing & settlement (notes)
Document · 6 min read
## Settlement
When a trade is agreed, the two sides still have to exchange cash for the asset. That process — clearing then settlement — is what makes the trade final.
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4. Module 1 assessment
Assessment · 5 questions
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4. Module 1 assessment
Assessment · 5 questions
Answer these to check your understanding:
1. What does a market actually set?
2. Name the two steps after a trade is agreed.
3. Why does settlement risk matter?
Submit your answers to the support desk or your course mentor to be marked.