A core text for one semester courses in Financial Institutions and Markets. A comprehensive exploration of the world's financial markets and institutions. Foundations of Financial Markets and Institutions offers a comprehensive exploration of the revolutionary developments occurring in the world's financial markets and institutions -i.e. innovation globalization and deregulation-with a focus on the actual practices of financial institutions investors and financial instruments. This fourth edition incorporates and addresses the vast amount of changes that have recently occurred in financial institutions and markets around the world.