Market Organization and Structure (2025 Level I CFA Exam – Equity – Module 1)

Learn the core concepts of Market Organization and Structure from the 2025 CFA Level I Equity Investments reading. Professor James Valentine explains the foundations of financial markets, asset classifications, trading systems, and intermediaries — helping you understand how global markets function and preparing you for more advanced CFA topics.
What you’ll learn:
- The main functions of financial systems
- Classifications of assets and markets
- Major types of securities, contracts, and commodities
- Roles of financial intermediaries
- Primary vs secondary markets
- Trading mechanisms and order types
- Features of a well-functioning financial system
- Objectives of market regulation
Learning Outcome Statements (LOS):
- Explain the main functions of the financial system
- Describe classifications of assets and markets
- Compare positions an investor can take in an asset
- Calculate and interpret leverage and margin
- Compare execution, validity, and clearing instructions
- Define primary and secondary markets
- Explain types of market structures and intermediaries
- Describe objectives of market regulation
CFA Prep Packages:
Level I: https://analystprep.com/shop/cfa-level-1-learn-practice-package/
Level II: https://analystprep.com/shop/learn-practice-package-for-level-ii-of-the-cfa-exam-by-analystprep/
Levels I, II & III (Lifetime access): https://analystprep.com/shop/cfa-unlimited-package-for-level-1-2-3/
Prep Packages for the FRM Program:
FRM Part I & Part II (Lifetime access): https://analystprep.com/shop/unlimited-package-for-frm-part-i-part-ii/
Topic 5 – Equity Investments
Module 1 – Market Organization and Structure
0:00 Introduction and Learning Outcome Statements
2:41 LOS : Explain the main functions of the financial system.
5:31 LOS : Describe classifications of assets and markets.
12:29 LOS : Describe the major types of securities, currencies, contracts, commodities, and real assets that trade in organized markets, including their distinguishing characteristics and major subtypes.
24:15 LOS : Describe types of financial intermediaries and services that they provide.
30:22 LOS : Compare positions an investor can take in an asset.
33:15 LOS : Calculate and interpret the leverage ratio, the rate of return on a margin transaction, and the security price at which the investor would receive a margin call.
41:08 LOS : Compare execution, validity, and clearing instructions.
43:21 LOS : Compare market orders with limit orders.
46:21 LOS : Define primary and secondary markets and explain how secondary markets support primary markets.
48:37 LOS : Describe how securities, contracts, and currencies are traded in quote-driven, order-driven, and brokered markets.
51:03 LOS : Describe characteristics of a well-functioning financial system.
54:25 LOS : Describe objectives of market regulation.
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