It is an aim of a financial market to provide a source of finance to particular target groups. This section deals largely with the financial instruments used by the market participants to raise funds, how these instruments are issued and how they are traded. The participants in the money and bond market are investors and borrowers. To highlight financial instruments from the borrowers′ point of view it makes sense to divide the group of borrowers in two distinct categories: The `Crown′ market consists of the Reserve Bank and the central government whereas the borrowers in the `Non-Crown′ market are financial intermediaries such as banks, corporations, state owned enterprises, local authorities, etc. as you can see in the table above. (Potter, 2000 [A]; Potter, 2000 [B]) The financial instruments in these two markets will be analysed separately in the sections to come: The `Crown′ market consists of the Reserve Bank and the central government whereas the borrowers in the `Non-Crown′ market are financial intermediaries such as banks, corporations, state owned enterprises, local authorities, etc. as you can see in the table above. (Potter, 2000 [A]; Potter, 2000 [B]) The financial instruments in these two markets will be analysed separately in the sections to come:
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