Never have financial markets been subjected to a period of change as rapid and extensive as took place from the 1970s onwards. In the 1970s global financial markets were controlled by governments, compartmentalized along national boundaries, and segregated according to the particular activities they engaged in. This all disintegrated in the decades that followed under the pressure of market forces, global integration, and a revolution in the technology of trading. One product of this transformation was the Global Financial Crisis of 2008, which exposed the fragility of the new structures...