I mercati e gli strumenti finanziari

[Autom. eng. transl.] This latest edition presents itself with a new look while maintaining the overall structure of the work unaltered, proposing educational aids (exercises and examples as well as questions at the end of the chapter) and comprehension (such as boxes and in-depth materials) that make reading understood both to the market operator or the financial professional and to the student or the one who intends to have adequate knowledge of the topics covered. The work is divided into three parts. The first part outlines the institutional structure of financial markets, highlighting not only the various organizational aspects on a theoretical basis but underlining the evolution of the markets, subject to conspicuous innovations from a regulatory point of view that have structurally influenced European stock exchanges and related transactions. In particular, reference is made to the recent evolution of the exchange industry in Europe and to the possible developments in the relations between stock exchanges and intermediaries. The second part of the volume provides a clear overview of all financial instruments: bonds, shares, derivatives, structured securities and units of collective investment undertakings (OICRs). Alongside the explanation of the different financial instruments from the economic and legal point of view, a simple and at the same time rigorous review of the evaluation methods typical of each type of financial instrument is provided, such as to allow the reader to understand how and when the financial instruments they are issued and exchanged by all operators (financial and non-financial). Finally, the third part of the volume provides the reader with a first doctrinal review of the methods of functioning and organization of market institutions, therefore disregarding the classical separation between regulated and alternative markets.