Financial Intermediaries, Instruments and Markets - MAN00073H

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Professional requirements

N/A

Related modules

Pre-requisite modules

• Financial Markets & Investments (MAN00004H)
• Sustainable Investing and Green Finance (MAN00042I)

Module will run

Occurrence	Teaching period
A	Semester 2 2026-27

Module aims

This module aims to provide students with a comprehensive understanding of the existence and operations of financial markets, the roles played by financial institutions in serving these markets, and the services they offer. It explores the management, performance, and regulatory facets inherent in financial institutions. The module also navigates the intricate functions prevailing across varied financial markets and elucidates the unique features characterising different financial instruments. Additionally, the module endeavours to deepen students' insights into the legal and ethical dimensions of financial services, scrutinising intricate aspects of financial crime and offences. The overall goal of the module is to equip students with knowledge about financial markets, institutions, instruments, and regulatory frameworks, promote ethical awareness, and offer practical insights into various investment contexts.

Module learning outcomes

After successful completion of the module, students will be able to: Subject content: - Develop a broad and insightful overview of the operations conducted by major financial institutions within the financial system, emphasising their roles and functions. - Explore the distinct characteristics of an extensive array of financial services and products provided by financial institutions, evaluating their advantages and disadvantages. - Recognise the significance of unethical conduct within financial markets, acknowledging the ethical dimensions and consequences of behaviour within the financial sector. - Understand the pivotal role played by regulatory frameworks in financial systems, the role of government and regulatory authorities, and key principles governing professional integrity and ethical behaviour in financial services. Academic and graduate skills - Advanced subject specific knowledge and understanding - Cognitive (thinking) skills: through self-study and assessments - Analytical skills required to undertake finance calculations and/or estimations. - Communication: via written assignments, online discussion boards, virtual study groups and tutorials; - Ability to conduct research into financial issues individually through data collection, analysis, synthesis and reporting.

Module content

1. Commercial Banks Background on commercial banks, bank sources and uses of funds, off-balance sheet activities, and international banking. 2. Fund Operations Background on mutual funds, stock and bond mutual funds, money market funds, hedge funds, ETFs, other types of funds. 3. Insurance Operations Setting insurance premiums, regulation of insurance companies, life insurance operations, other types of insurance operations, exposure of insurance companies to risk, and valuation of an insurance company. 4. Pension Fund Operations Types of pension plans, pension fund participation in financial markets, regulation of private pension plans, underfunded public defined-benefit pension plans, corruption of defined-benefit pension funds, pension fund management, and performance of pension funds. 5. Property The characteristics of property investment, commercial/residential property, direct/indirect investment and the advantages and disadvantages of investing in property. 6. Mortgage Markets Background on mortgages, types of residential mortgages, valuation of mortgages, mortgage-backed securities and credit crisis 7. Swap Markets Types of swaps, risks of interest rate swaps, pricing interest rate swaps, performance of interest rate swaps, credit default swaps and globalisation of swap markets. 8. Commodity Markets The characteristics of commodity markets, the advantages and disadvantages of investing in commodity markets. 9. Market Microstructure and Strategies Stock market transactions, how stock transactions are executed, high-frequency trading, regulation of stock trading, trading international stocks. 10. Financial Services Regulation The UK and European regulatory environment and the role of government and regulatory authorities. The key principles of professional integrity and ethical behaviour in financial services. 11. Financial Crime Money laundering, the stages involved and the related criminal offences, how firms/individuals can be exploited as vehicles for financial crime: fraud, cybercrime, terrorist financing, bribery.

Indicative assessment

Task	% of module mark
Closed/in-person Exam (Centrally scheduled)	100.0

Special assessment rules

None

Indicative reassessment

Task	% of module mark
Closed/in-person Exam (Centrally scheduled)	100.0

Module feedback

Students will receive written guidance on seminar questions/tasks at the end of seminar sessions. Feedback and the timescale for the return of feedback will be given in accordance with the University Policy on feedback and in line with the School policy. The module tutors are available to meet with students, providing personal feedback and additional assistance. Module assessment reports are written by the module leader for all assessments and placed on the VLE after the Board of Examination

Indicative reading

 

Jeff Madura: Financial Markets and Institutions: Cengage 13th (2021)