The financial transactions have, in this moment, a higher volume than commercial transactions, the trend being the same in the future.
The most important factors that can explain the evolution of the international financial system are:
· the need for capital consolidation,
· the need for separation between the investors and the business administrators,
· the temporal variability between the gain and individual consumption.
The risks specific to the financial instruments diversification become more and more comprehensive and analysed based on specific methodologies (the interest rate risk and foreign exchange).
The investors with higher risk aversion will prefer the risk free rate instruments or the instruments with a lower risk and the managers with a low risk aversion will prefer to borrow money and to invest it on risky financial instruments.