Global financial markets are important for the global economy. This article looks at how new financial tools affect these markets. The researchers studied different financial instruments and how they impact the global financial system. They used different methods to organize and analyze the data. The study found that introducing new financial tools can improve how financial markets work. There is some confusion about what counts as an "innovative" financial tool, but the researchers created a classification system to help with this. They also suggested different stages in the development of these tools.