A clear, comprehensive and user-friendly guide to the world of investments and finance. It defines and describes how the markets, the exchanges, the brokers and investment managers actually work together to support investing by individuals and institutions. Learn how trades are executed, how derivatives are derived, what you can and cannot expect from your broker, and how new products and services keep expanding the choices that benefit investors.

The third edition comes complete with updates of all of the changes to the US markets, including Arca, Euronext and regional developments. The many technological improvements that are transforming the securities industry are covered in detail.