University of Technology Sydney

25865 Digital and Decentralised Markets

Requisite(s): 24 credit points of completed study in spk(s): C04048 Master of Finance OR 24 credit points of completed study in spk(s): C04258 Master of Finance (Extension) OR 24 credit points of completed study in spk(s): C07021 Graduate Diploma Finance OR 24 credit points of completed study in 24Credit Points spk(s): MAJ08984 c 36cp Finance Major MBA
The lower case 'c' after the subject code indicates that the subject is a corequisite. See definitions for details.
These requisites may not apply to students in certain courses.
There are course requisites for this subject. See access conditions.



In this subject, students learn about financial markets and how they are being transformed by recent technologies, including automation, blockchains, distributed ledgers, and smart contracts. It starts with the fundamentals: how markets are designed, their roles, how they operate, and how financial markets affect companies and investment portfolios. It provides tools to evaluate market quality. The subject then covers recent innovations and contemporary issues in traditional financial markets, including fragmentation of trading across competing venues, algorithmic and high-frequency trading, dark pools, recent regulations, and market design innovations. The subject explores the rapidly evolving Decentralised Finance (DeFi) and Financial Technology (FinTech) ecosystems that are reshaping financial markets and the financial services industry. It covers the underlying technologies (blockchain, smart contracts, tokenisation), the applications (Decentralised Exchanges (DEX), Automated Market Makers (AMM), tokenised securities, non-fungible tokens (NFT), peer-to-peer lending/borrowing, insurance, and derivatives), and finally the challenges, risks, and areas for future R&D.

Detailed subject description.

Access conditions

Note: The requisite information presented in this subject description covers only academic requisites. Full details of all enforced rules, covering both academic and admission requisites, are available at access conditions and My Student Admin.