Part I Financial Markets, 1 Financial Markets and Exchanges

This chapter considers the development and nature of markets and exchanges, including their origin, evolution, expansion, structure, and function of markets and exchanges. It analyses the content and operation of financial markets and instruments, the relationship between capital and stock markets, and other financial markets. It also examines the structural and operational issues of the nature and function of markets and exchanges. This chapter reviews the nature and impact of Financial Technology (FinTech) and Regulatory Technology (RegTech). It refers to the general nature and impact of the global financial crisis and recent Coronavirus crisis, as well the shape and structure of the new international, regional, and national responses.