This is an introduction to the world's principal financial markets and institutions. This new edition has been updated to include: European Union developments; deregulation, and its effects on banking systems; changes in Europe's futures and options exchanges; and the aftermath of the collapse of the "tiger economies". Providing coverage of commercial and investment banking, foreign exchange, money and bond markets, trade finance, stock markets, and options, futures and other derivatives, this book offers a basic understanding of the world of finance. This book does not aim to provide coverage of the theory of the subject, but rather draws on the author's teaching and training experience in explaining these topics to those new to the field.