Academy · Foundations
A common foundation for understanding markets
Move from share ownership to evidence and operational controls. The path is educational and its prerequisites are advisory.
Learning path
Basic level
Five public lessons on what you own, how markets work and which dates and risks matter.
- Lesson 18 min
What you buy when you buy a share
A share is an interest in a company's equity, with rights determined by its class and the applicable documents.
Open lesson - Lesson 29 min
How the market works
A trade connects investor, intermediary, venue, clearing, settlement and custody; each link performs a different job.
Open lesson - Lesson 310 min
How price and execution are formed
An order book displays limited intentions; an observed price is an execution, not an objective valuation or a guarantee for the next order.
Open lesson - Lesson 410 min
Return, risk and costs
Total return combines price change and distributions; getting closer to the investor outcome requires costs and a distinction between nominal and real return.
Open lesson - Lesson 511 min
Corporate actions and dates
A corporate action changes cash, securities or rights; interpreting its dates requires the documents, market and applicable settlement cycle.
Open lesson