Financial Markets and Electoral Systems

Welcome to, the website of Julian D. A. Wiseman.
Essays by category: • Structure of financial markets; • Electoral systems; • Pricing Money; • other essays; • short URLs.

Cover of Pricing Money

Pricing Money: A Beginner’s Guide to Money, Bonds, Futures and Swaps is an introduction to the fixed-income markets. It explains the purpose and design of the most important financial instruments, including deposits, bonds, futures and swaps, and how these instruments are used by the various players in the financial system. The book is for new recruits and potential new recruits in financial markets (consider reading it before rather than after the interview), as well as accountants, lawyers, and those wishing to understand finance. The style is engaging, accessible and non-mathematical, and hence comprehensible by those with no prior financial knowledge.

The text of Chapter 1: Money Markets and of the Table of Contents are available at, with the permission of the publisher Wiley.

Pricing Money can be purchased from,,,,, B&N, as well as other bookshops: cite ISBN 978-0-471-48700-5.

New essays are announced on twitter. It is expected that tweets will be infrequent.

Papers at

Valid HTML 4.01 Transitional

Disclaimer. This website is published by Julian D. A. Wiseman in his personal capacity. Its contents are published as a courtesy, for information only, and no action should be taken or omitted in reliance upon it and no legal duty to the reader is created. All opinions, information, estimates and computer code presented herein: are those of Julian D. A. Wiseman; are presented in good faith and were believed to be reliable when originally written (except computer code, which was believed to be mostly reliable over the range of inputs anticipated by Julian Wiseman); are subject to change without notice; are not necessarily approved of or disagreed with by any of Julian Wiseman’s past, present or future employers, by other employees of those employers, or by any of the central banks, monetary authorities, government debt agencies or other entities mentioned; and may already have been used as a basis for trading by Julian Wiseman, his past, present or future employers, or others. No warranty or guarantee is given about completeness or accuracy. This material is not intended to be an offer or solicitation for the purchase or sale of any financial instrument. Not only am I am not your fiduciary; not only do we not have a fiduciary relationship; both of these and more: we do not have any relationship at all of any nature nor of any unnature, whether or not the void between your ears hopes for more or fears it. Rephrased for the hard of understanding: there is no ‘we’. Just no, not ever. And, finally and more prosaically, a part of this disclaimer being void or invalid or unenforceable does not affect other parts: the damage is to be the least possible.

Privacy. There is no user data: does not have any facility for users to register, nor for users to submit any information, whether or not personal. Further does not place any cookies, nor any new-fangled digital devices of like nature (though it is possible that the hosting company might, now or in the future, do its own mischief). There is no data to keep private; there is no data to steal; and hence there is no privacy policy. This minimalism is recommended to other webmasters. Indeed, if a page at requests any personal information, any password, or anything, then has been hacked. Please be cautious and tell the author as soon as possible. Top About author