The increasing interdependence of the world economy has huge implications for global finance in the twenty-first century. This volume brings together leading scholars and practitioners to offer in-depth analyses of the new direction open to the financial services industry. They explore the challenges and opportunities of the new finance era, future development in financial markets, with particular emphasis on the role of new technologies and the industry's view of strengthening financial intermediation. The book concludes with an assessment of key managerial and regulatory issues.