A former member of the American Stock Exchange introduces trading and financial markets to upper-division undergraduates and graduate students who are planning to work in the finance industry. Unlike standard investment texts that cover trading as one of many subjects, Financial Trading and Investments gives primary attention to trading, trading institutions, markets, and the institutions that facilitate and regulate trading activities-what economists call "market microstructure." Introduces the financial markets and the quantitative tools used in them so students learn how the markets operate and gain experience with their principal tools. Helps students develop their skills with the most popular trading simulation programs so they can reuse the book to solve day-to-day problems. Stretches from investor behavior to hedging strategies and noise trading, capturing recent advances in an up-to-date reference source.