EN
Recent developments in physics of large gap II-VI Diluted Magnetic Semiconductors (DMS) studied by means of magnetooptical methods are reviewed. Applicability of the Heisenberg Hamiltonian to describe the ion-carrier interaction in new DMS materials is discussed. The paper includes anisotropy related phenomena, new type of bound magnetic polarons found in Van Vleck paramagnetic (Cd,Fe)Se and discusses application of magnetic field to study kinetics of Raman cascades in DMS.