Table of contents
Eight lessons. Ends with your global markets map.
- 01
What an Exchange Actually Does
An exchange is infrastructure — it doesn't own inventory, it runs a book.
- 02
Bid, Ask, and the Invisible Cost
The spread is the price of immediacy — you pay it every round trip.
- 03
Price Discovery and the Opening Cross
How pent-up overnight orders find a single clearing price at the open.
- 04
Liquidity and Why Size Moves Markets
Deep books absorb orders without flinching. Thin books do not.
- 05
Trading Hours Around the World
Each exchange has a fixed session. 24-hour trading is an illusion.
- 06
Primary vs Secondary Markets
When does your money actually reach the company?
- 07
Circuit Breakers and Halts
The safety plumbing that pauses trading when panic takes over.
- 08
Your Markets Map (Capstone)
One stage, one map — exchange, spread, clock, and halt wired together.
Capstone
Ready?
Start with what an exchange actually does.
Four minutes. You'll leave knowing how a buyer and seller find each other — and what the order book is reading.
Start Lesson 1 →Key terms
Plain-English definitions for every concept in this stage.