| The price of complex derivative securities are often represented as multidimensional integrals in modern finance. The Monte Carlo method has proved useful in the evaluation of these multidimensional integrals. The paper describes a recent development in this area that is generating considerable interest. Instead of using random points to evaluate the multidimensional integrals as in Monte Carlo method one can use a deterministic sequence that are more regularly distributed. Theses sequences are known as low discrepancy sequences and the method is known as quasi-Monte Carlo. The paper describes this approach and gives the application to finance problem. |