"Modern financial systems play a vital role in our global economy and, given the rapid evolution of modern finance, it is vital that participants in this system have a thorough understanding of the material in this text. This is an important and timely synthesis of the theory that drives modern finance."
—Mike Durland, Co-CEO, Scotia Capital

"This book clearly presents all the material that is necessary to achieve a comprehensive understanding of modern financial systems. It's an essential topic, more important now than ever, yet many of the traditional approaches to teaching finance lack emphasis on it. This is unfortunate because the events of the past year underscore how important it is for financial professionals, regulators, and scholars to have a comprehensive understanding of modern financial systems as a set of constituent parts operating together as a complex whole. Professor Neave's book is an essential tool for those wishing to achieve that goal."
—Michael L. McIntyre, PhD, Associate Professor, Finance,Sprott School of Business, Carleton University

"This impressive book by Professor E.H. Neave on financial systems is a good introduction for anyone interested in how financial systems are organized. A book for the present times!"
—A.M. Herzberg, Professor Emeritus, Queen's University

"Edwin Neave shows how classical, simple no-arbitrage arguments and common sense models of decision-making on the lattice get results, and if you're looking for more in-depth, advanced treatment you can follow the references at the end of each chapter. He explains exactly how financial systems are symbiotic; how various players depend on each other to survive and prosper—something that the entire world has come to realize given the recent crisis. Contrary to what many had thought about the world markets being so large, infinitely liquid, and robust that it would be impossible to bring them down, we have seen first-hand that financial systems are not self-correcting. The author shows that thoughtful regulation, skillful deal screening, and corporate governance structure with proper rewards and penalties (i.e., not restrictions but rather good incentives management) are all extremely important to financial systems performing their intended functions. This book will be useful to students of finance who want to learn about markets, as well as seasoned practitioners who want to better understand microeconomic forces that shape modern financial systems."
—Serge Slavinsky, Associate Director, Scotia Capital