February 2003
Beginner
208 pages
4h 55m
English
Content preview from Understanding the Markets
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Chapter 8
Changes and developments
T
he financial markets never stand still. Since the early days of
organized trading, progress has been made in all aspects of the
markets including, of course, the trading itself. In the early days
most exchanges were commodities based, then as the financial
markets developed so we had stock exchanges and later, derivatives
exchanges. Today there are exchanges which trade many different
products reflecting the sophistication of the end-users. The global-
ization of the financial services industry and the consequent
rationalization has created a situation where the major international
banks are members of most of the main ...
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