The development of innovative financial products has an important role in the global growth of both the financial and real sectors of the economy. New financial products help to service increasingly more complex global economies. The successful implementation of these innovations can play a key role in driving global market efficiency and new economic growth.The first article in this issue, by Richard Graff, suggests the use of an alternative, non-debt based version of fixed income securities that may help to avoid some of the problems inherent when debt instruments are securitized. The second.