This is Guo's solution to Derivatives Markets (2nd edition ISBN 0-321-28030-X) for Exam FM. Unlike the official solution manual published by Addison-Wesley, this solution manual provides solutions to both the even-numbered and odd-numbered problems for the chapters that are on the Exam FM syllabus. Problems that are out of the scope of the FM syllabus are excluded.This book is the exclusive property of Yufeng Guo. Redistribution of thisbook in any form is prohibited.