Describes financial instruments and their markets, and overviews the asset/liability management problems institutional investors face and strategies for overcoming them. After material on market participants, the structure of markets, and risk and return theories, chapters on individual markets discuss the role of instruments and principles of pricing them, and include summaries and questions. This second edition expands coverage of the options market and foreign investors.

This text offers the most comprehensive capital market coverage available. It covers the instruments, the players, and the principles of valuation with an excellent blend of theory and practice.

Topics include Overview of Market Participants and Financial Innovation, Depository Institutions, Investment Banking Firms, Stock Options Market, The Theory and Structure of Interest Rates, and The Market for Foreign Exchange and Risk Control Instruments. Appropriate for corporate treasurers.



This text offers the most comprehensive capital market coverage available. It covers the instruments, the players, and the principles of valuation with an excellent blend of theory and practice. Topics include Overview of Market Participants and Financial Innovation, Depository Institutions, Investment Banking Firms, Stock Options Market, The Theory and Structure of Interest Rates, and The Market for Foreign Exchange and Risk Control Instruments. Appropriate for corporate treasurers.