A financial market is a market in which financial instruments are exchanged or traded. In addition to enabling exchange of financial assets, financial markets facilitate borrowing and lending by facilitating the sale by newly issued financial assets. Discuss the role of financial markets in the economic development in Canada?

b) Stock exchange?(also known as stock markets) are special “market places” where already held stocks and bonds are bought and sold. They are, in effect, a financial institution, which provides the facilities and regulations needed to carry out such transactions quickly, conveniently and lawfully. Discuss the functions of the Nairobi Securities Exchange in developing the financial market

c) Recent decades have witnessed the globalization of financial market to an unprecedented degree. Explain the emerging issues in the financial market(8marks).