Electronic Trading and IDB Platforms

In-person teaching Classroom
Exclusive online content Webinar

The aim of this Electronic Trading and IDB Platforms course is to provide the learners with the knowledge and skills in order to utilise electronic trading platforms.

Participants will study and analyse the different methodologies available in the marketplace with particular focus on IDB platforms.


This course is for individuals relatively new to financial markets and graduate entrants and Operations and Compliance teams wishing to understand platform trading practices.

Ideally, Financial Markets graduates should have some exposure to the Front Office and market negotiation and have an understanding of Bid/ Offer spreads.

Learning Outcomes

  • At the end of this course participants will be able to:
  • Understand the nature of a hybrid marketplace
  • Define platform functions and methodologies, to include:
  • Whiteboards
  • CLOB
  • RFQ
  • Volume Matching
  • All Day Matching
  • Trade and interact on these platforms
  • Examine the differences in these protocols
  • Analyse how to use the functions to best advantage
  • Understand the use and importance of other functions:
    • STP
    • APIs
    • Data
  • Recognise and understand compliance factors and regulation of the platforms

Course Content

  • Hybrid Market
  • Introduction to the changing marketplace
  • Opening Questions and discussion
  • History and emerging methodologies
  • Market preferences across asset classes
  • The importance of liquidity
  • Whiteboards and CLOB
  • Whiteboard facilities and uses
  • CLOB activities – electronification of market negotiation and execution – mock ups and activities
  • RFQ (RFI)
  • Understanding the role of RFQ in the IDB market and for end users
  • Functionalities and permutations
  • Volume Matching
  • Volume Matching Principles
  • Role Play and Activities
  • Participation instruction
  • Further Analysis
  • Presentation and Group Session to examine different rules and permutation
  • All Day Matching
  • Follow on from VM Analysis – further scenarios
  • Combination with other methods in combined platforms
  • How they interact and influence each other
  • Compliance
  • Regulation
  • MiFID Venues
  • Execution or IOI
  • Further Facilities
  • STP – processing, reporting and risk management
  • APIs – Interaction with your trading systems
  • Data Provision


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