ABSTRACT
This is a well written text which easily assimilates complex, technical financial material and commentary on the nature and role of a financial instrument into a readable and comprehensible presentation. All readers would agree that financial innovation (the process whereby financial products and processes are continually created and refined within the financial/capital markets to satisfy the competitive nature amongst financial institutions (lenders) and the demands of the customer (borrower)) is continually changing the nature and role of financial instruments traded on the domestic and international capital markets. Therefore it is important for all participants (sophisticated or unsophisticated) and regulators to have access to a text which explains in a succinct and clear manner the various forms and operations of derivatives markets – this is such a text.
