The global pandemic, the rapid advances in information and technology, and the wars of the last two years have had a significant impact on international trade, logistics and national economies. It is inevitable that this situation will also affect financial markets, which dislike uncertainty and risk. Developments in the field of information and technology offer opportunities such as digitalization (open banking, branchless banking, etc.) and the opportunity to work in a wider area at lower costs, but also bring threats such as cyber risks. Pandemics and wars have slowed down international trade, increased costs, and as a result, the world has had to face unfamiliar inflation figures. In this process, access to finance has become difficult, the cost of money has increased, and both investors and businesses have sought new solutions.

In order to recognize the change and development in financial markets, the fourth book of the series, The Evolution of Financial Markets-4, was prepared in 2023 due to the interest that has continued since the first book titled The Evolution of Financial Markets. This book consists of studies carefully prepared by competent researchers to explain the changes in financial markets.