Understand the Financial Markets
Kickstart your understanding of the financial markets, the City, and the business of law firms
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Welcome to TCLA's Mastering the City Course
Targeted at aspiring lawyers, future trainees and trainees, the ongoing aim of this course is to teach you everything you need to know about the financial markets to excel in your careers.
The goal is to demystify key business and legal topics and provide an overview of how different parts of the City work together.
What does this course cover?
We cover the following topics:
General Commercial Awareness
- Finance and the Capital Markets
- The Money Markets
- The Stock Market, Exchanges, Trading and Clearing Houses
- EBITDA and Financial Metrics
- Reading Financial Statements
Topical Commercial Awareness
- Sovereign Wealth Funds
- ESG and Impact Investing
- Recessions and the Financial Crisis
- The General Data Protection Regulation Act
What "Commercial Awareness" do I need to show in an interview?
- Do you have a genuine interest in the commercial world? Does it excite you? Do you have a drive to learn more?
- Do you understand the basic drivers of business? Do you understand how a law firm makes its money?
- Can you think on your feet and make commercially-viable judgements? Can you apply your knowledge of the commercial world to answer questions, breaking down your thought process?
In our opinion, that's what commercial awareness is. It's not about learning XYZ or parroting financial terms in an interview. If you have a genuine interest in the financial world, you'll be equipped to answer any commercial question.
How do I develop commercial awareness?
Commercial awareness is not some elusive skill that only the elite students can develop. It's just like any skill, a skill that can be developed through consistent, deliberate practice. Just like playing a sport, an instrument, or developing a creative skill like drawing, you can get better.
So, if you're struggling right now, wondering how you're ever going to master commercial awareness: we want to remind you that anyone can develop commercial awareness.
That includes you.
StartHow the City works - The Background
StartStock Markets and their Participants
StartOverview of the Financial Markets: Borrowers, Lenders and Financial Intermediaries
StartInterview Question: Why is London a leading financial centre?
StartInvestment Banking 101
StartRaising Money: Equity and Debt Compared
StartIntroduction to the Stock Market: Primary and Secondary Markets
StartThe Stock Exchange: Commodities and Derivatives
StartWho can Trade on an Exchange: Brokers and Dealers
StartHow Does The Share Price Of A Stock Actually Change?
StartHigh Frequency Traders
StartClearing, Clearing Houses and Settlement
Frequently Asked Questions
TCLA is the largest dedicated forum for aspiring lawyers. Our mission is to help aspiring lawyers become the best version of themselves.
TCLA is also an educational platform. It’s our goal to turn aspiring lawyers, from student to trainee solicitor, into exceptional commercial lawyers. Through TCLA Premium, we provide an extensive list of online courses designed to upskill the next generation of lawyers.