scholarly journals TO THE QUESTION ON ECONOMIC AND LEGAL SECURITY OF THE USE OF BINARY OPTIONS AS FINANCIAL INSTRUMENTS

2020 ◽  
Vol 33 (20) ◽  
pp. 58-63
Author(s):  
L. D. Rudenko ◽  
A.Yu. Bavikin ◽  
O.P. Sokolenko
Keyword(s):  
Raw Materials ◽  
Precious Metals ◽  
Legal Regulation ◽  
Federal Republic Of Germany ◽  
Financial Instruments ◽  
Options Market ◽  
Financial Instrument ◽  
Online Platforms ◽  
Binary Options ◽  
Legal Security

The article investigates the current state of economic and legal support for the use of binary options as financial instruments. On the basis of the conducted research, the concept of binary option as derivative security and the financial instrument is specified, the main types of binary options are distinguished. Also, the article investigates features of the functioning of the binary options market through online trading platforms. The legal nature of the binary option as a derivative of security and a financial instrument (item 5 of Part 5 of Article 3 of the Law of Ukraine “On Securities and the Stock Market”) is specified. There is no comprehensive list of such securities in the legislation. That is, based on the features of the binary option (timeliness; purchase or sale of any of the financial instruments, including those that provide cash payment; no actual purchase of securities, currency or precious metals, raw materials; availability of a certain fixed condition at the time conclusion of the transaction; short-term and speculative nature of the financial transaction; trading on online platforms). The concept of a binary option has been clarified, namely: this is the type of options contract (contract) under which the payment will depend entirely on the result of the offer, yes or no, usually related to whether the price of a particular asset such as a stock or commodity will rise above or will decrease below the amount indicated. Unlike traditional options, when such an agreement is concluded, no actual purchase of a security, precious metal, raw materials is made, but a bid is made to increase or decrease the price of the asset for a certain time. Based on an analysis of EU law, including the MIFID, it is determined that binary options refer to derivative financial instruments. The peculiarities of economic and legal regulation of the binary options market are investigated by the European Securities Market Supervision Authority (ESMA). There is a lack of proper regulation and control over the binary options market by the state in Ukraine, which in turn led to an outflow of tens of millions of dollars from the Ukrainian economy and causing significant financial losses to traders. The article argues the feasibility of adopting a special law on the market for binary options based on the experience of the Federal Republic of Germany to protect Ukrainian traders. Keywords: binary option, financial instrument, trader, trading online platforms, ESMA, MIFID.

scholarly journals Corporations and Corporate Financial Instruments in Russian and Foreign Law

2021 ◽  
pp. 285-320
Author(s):  
R. V. Chikulaev ◽  
◽  
Keyword(s):  
Legal Status ◽  
Developed Countries ◽  
Legal Regulation ◽  
Financial Instruments ◽  
Legal Systems ◽  
Legal Regime ◽  
Financial Instrument ◽  
Corporate Rights ◽  
The World ◽  
Legal Forms

Introduction: the paper investigates the legal regime of corporate financial instruments in the context of the convergence of the world legal systems taking into account historically determined national differentiation. We study the legal regime of corporate financial instruments with respect to the status peculiarities of a corporation as a subject of legal relations and the regime characteristics of a financial instrument as a legal object. The purpose of the study is to analyze and generalize the legal experience of economically developed countries and to explain the modern legal content of the concept ‘corporate financial instrument’ against the related legal terms ‘securities’, ‘financial instrument’, ‘corporation’; to reveal major problems in the doctrine and positive legal regulation. Methods: comparative-legal, formal-logical, historical, analytical, empirical methods, and legal modeling. Results: the analysis of Russian and foreign experience made it possible for us to explain the specific nature of the legal status of corporation as the main component of modern economic systems, which determines special legal regimes of financial instruments that provide certain corporate rights. Conclusions: in terms of comparative analysis, of special interest is legal experience of such countries as Germany, France, Great Britain, and the USA since these countries show a higher level in the development of corporate legal forms and financial markets. Since early 1990s, Russia has been demonstrating high rates in the formation of the system of financial instruments circulation, which, with respect to the legal development of the corporate legal entity doctrine, brings Russian legal system closer to the world major legal systems. In the light of the focus on the sustainable economic development and defense of state interests with the use of modern digitalization methods, this also objectifies and makes currently relevant the development of the national legal regime of the corporate financial instrument based on the international legal experience.

scholarly journals Tokenization of assets and products

2020 ◽  
Vol 7 (2) ◽  
Author(s):  
Oleg Rudzeyt ◽  
Anton Nedyak ◽  
Artem Zainetdinov
Keyword(s):  
Raw Materials ◽  
Precious Metals ◽  
The United States ◽  
Financial Instruments ◽  
Secondary Markets ◽  
Blockchain Technology ◽  
Manufactured Products ◽  
Bank Checks ◽  
Physical Assets ◽  
Physical Asset

This article is about tokenization of assets and products based on blockchain technology. Tokenization continues the idea of securities, but only in the field of digital technologies. Various financial instruments have long been used that eliminate the risks of turnover of valuable physical assets, such as precious metals, by replacing them with less valuable equivalents. This is, for example, the use of banknotes and coins made of non-precious metals, Bank checks, and so on. Tokenization allows you to convert rights to a valuable physical asset into a digital token. The objects of tokenization can be real estate, various securities, manufactured products or raw materials, and so on. Such a token can be put into circulation on primary and secondary markets, as well as, often, «cashed» – that is, it can be exchanged from the manufacturer for the corresponding products. An important feature of tokenization is the ability to divide the value of indivisible assets, such as art and collectibles. This allows you to attract investors with small capital and makes it easier to benefit from initially expensive and low-liquid assets. However, this technology has a number of problems. The main problem with tokenization is that there is still no clear regulation of these digital assets in all countries of the world. In the United States, for example, tokens are often equated with securities. In Germany, it is considered that each case of tokenization should be considered separately, but tokens that grant rights similar to those granted by traditional shares are classified as financial instruments and are subject to appropriate regulation. In the future, after the problems are resolved, tokenization can replace the traditional way of representing the value of physical assets – securities, and also become a convenient financial tool for trading products and assets.

Judging the Relevance of Fair Value for Financial Instruments

2011 ◽  
Vol 86 (6) ◽  
pp. 2075-2098 ◽  
Author(s):  
Lisa Koonce ◽  
Karen K. Nelson ◽  
Catherine M. Shakespeare
Keyword(s):  
Value Relevance ◽  
Fair Value ◽  
Data Availability ◽  
Financial Instruments ◽  
Counterfactual Reasoning ◽  
Financial Instrument ◽  
Relevance Judgments

ABSTRACT We conduct three experiments to test if investors' views about fair value are contingent on whether the financial instrument in question is an asset or liability, whether fair values produce gains or losses, and whether the item will or will not be sold/settled soon. We draw on counterfactual reasoning theory from psychology, which suggests that these factors are likely to influence whether investors consider fair value as providing information about forgone opportunities. The latter, in turn, is predicted to influence investors' fair value relevance judgments. Results are generally supportive of the notion that judgments about the relevance of fair value are contingent. Attempts to influence investors' fair value relevance judgments by providing them with information about forgone opportunities are met with mixed success. In particular, our results are sensitive to the type of information provided and indicate the difficulty of overcoming investors' (apparent) strong beliefs about fair value. Data Availability: Contact the authors.

Physicochemical approaches to gold and silver work, an overview: Searching for technologies, tracing routes, attempting to preserve

2018 ◽  
Vol 4 (2) ◽  
Author(s):  
Maria F. Guerra
Keyword(s):  
Atmospheric Corrosion ◽  
Raw Materials ◽  
Precious Metals ◽  
Gold Alloys ◽  
Exchange Networks ◽  
Trade Routes ◽  
Physicochemical Methods ◽  
Corrosion Mechanisms ◽  
Challenging Question

Abstract Gold alloys and silver alloys have always been widely employed in the production of significant objects. With high reflectivity, precious metals are perceived as both materials and colours, and can be skilfully combined to produce metallic polychrome effects. Because their structure and composition contain information on their manufacture, use, disclaim and degradation, items in gold and in silver enclose major information on the technologies employed by past societies and on exchange networks. This information can be acquired using appropriate analytical protocols, established according to the nature of the query and the characteristics of the objects. By using physicochemical techniques, it is possible to identify the technologies, materials and tools used by the artisan and, in particular cases, to situate the sources of raw materials and the workshops producing the objects, as well as to follow the trade routes. The aim of this work is to outline major achievements in the study of goldwork and silverwork based on the different physicochemical methods that are available, and to refer the analytical difficulties that have to be faced when studying objects made from precious metals. Based on several examples, three topics are addressed. The first concerns the major role of the techniques of exam when describing shaping, decorating, assembling and finishing; the second considers the search for metallic polychrome effects in some cultural areas; and the third discusses the challenging question of fingerprinting. A fourth section is dedicated to a short reflection on the difficulties related to the identification of the atmospheric corrosion mechanisms of precious metals.

scholarly journals Analysing the Sway of Cash Instruments in the Indian Financial Market Context

2021 ◽  
Vol 10 (06) ◽  
pp. 01-04
Author(s):  
Bhumi Mehta
Keyword(s):  
Financial Market ◽  
Financial Instruments ◽  
Financial Instrument ◽  
Legal Documents ◽  
Financial Innovations ◽  
Monetary Value ◽  
Financial Products ◽  
Derivative Instruments ◽  
Different Types ◽  
Bill Of Exchange

There are basically four types of financial instruments viz. a bank deposit, a bill of exchange, a bond, and equity. As a result of a steady stream of financial innovations in today’s time, the market landscape is far less sparse-and far more complex to evaluate. Financial instruments are termed as the financial products which are tradable as packages of capital, each having their own unique characteristics and structure. The wide collection of financial instruments in today's marketplace allows for the efficient flow of capital amongst the world's investors. Financial instruments are legal documents that embody monetary value. There are a number of different types of documents that are properly identified as a financial instrument. There are different types of financial instrument, like cash instruments or derivative instruments.

scholarly journals Risk management of derivative financial instruments

2021 ◽  
pp. 89-98
Author(s):  
Oksana Kirillova ◽  
Ellina Emelyanova
Keyword(s):  
Risk Management ◽  
Financial Derivatives ◽  
Financial Instruments ◽  
Financial Instrument ◽  
Russian Market ◽  
Advantages And Disadvantages ◽  
The Subject ◽  
Faster Development

The subject of the study is derivative financial instruments. At the beginning of the article, the concept of a derivative financial instrument (PFI) is considered, their advantages and disadvantages are given, after which the risks of operations carried out with PFI are formulated. Further, the article discusses the main problems inherent in the PFI market and suggests a number of measures to solve these problems. In conclusion, recommendations are made that will allow for faster development of the Russian market of financial derivatives.

scholarly journals Emulsion Liquid Membrane Extraction of Silver from Photographic Waste using Tetramethylthiuram Disulfide (TMTDS) as a Mobile Carrier

2017 ◽  
Vol 3 (1) ◽  
Author(s):  
Norasikin Othman ◽  
Chan Kit Hie ◽  
Chiong Tung ◽  
Hanapi Mat ◽  
Masahiro Goto
Keyword(s):  
Heavy Metals ◽  
Liquid Membrane ◽  
Raw Materials ◽  
Precious Metals ◽  
Membrane Extraction ◽  
Industrial Wastes ◽  
Emulsion Liquid Membrane ◽  
Tetramethylthiuram Disulfide ◽  
Mobile Carrier ◽  
Liquid Membrane Extraction

The recovery of precious metals such as silver from photographic wastes is required in order to save raw materials and to protect the environment from dispersed compound, especially heavy metals. For that matter, several technologies have been used such as precipitation, electrolytic, and ion exchange processes which offer some advantages as well as drawbacks over others. Recently, emulsion liquid membrane extraction has been recognized to be a potential process for industrial wastes treatment and recovery of heavy metals. This process has the ability to selectively separate and rapidly concentrate metals through its very thin layer liquid membrane which has a large interfacial area. An attempt was made to recover silver from liquid photographic wastes using tetramethylthiuram disulfide as a mobile carrier. The important variables affecting the emulsion liquid membrane (ELM) process including residence time, surfactant concentration, carrier concentration, level of agitation and phase ratio between emulsion and feed phase were investigated. The results showed that tetramethylthiuram disulfide is selective towards silver (>80%) compared to other metals in the photographic waste. The highest silver extraction is obtained using 0.05 M tetramethylthiuram disulfide, 3% (w/v) Span 80, 300 rpm stirring speed, 1.0 M thiourea in 0.1 M HCl stripping agent, 1:3 of treat ratio, and toluene as the diluent.

scholarly journals ISSUES OF LAW ENFORCEMENT PRACTICE ON THE USE OF SPECIAL EQUIPMENT FOR PHOTO AND VIDEO RECORDING FOR IMPOSING ADMINISTRATIVE LIABILITY FOR TRAFFIC VIOLATION: COMPARATIVE AND LEGAL ANALYSIS OF LEGAL RULES ON ADMINISTRATIVE LIABILITY IN THE RUSSIAN AND FOREIGN LAW

2015 ◽  
Vol 1 (4) ◽  
pp. 0-0
Author(s):  
Наталия Сухарева ◽  
Nataliya Sukharyeva ◽  
Павел Падеров ◽  
Pavel Paderov
Keyword(s):  
Video Recording ◽  
Legal Regulation ◽  
Technical Equipment ◽  
Federal Republic Of Germany ◽  
Legal Analysis ◽  
Automatic Equipment ◽  
Special Equipment ◽  
Legal Rules ◽  
Traffic Violation ◽  
Administrative Proceedings

This article deals with the problem of using special technical equipment for automatic recording of traffic violations. The article draws attention to certain important issues concerning administrative liability of vehicle possessors (owners), when a traffic violation is recorded by special automatic equipment, in particular: special characteristics of a subject of administrative offense, exceptions to the «presumption of innocence» principle; peculiarities of administrative proceedings in such cases. When writing this article the authors used the method of comparative legal analysis. The article contains comparative analysis of administrative legal rules of the Russian Federation, and those of the Federal Republic of Germany and the Republic of Belarus. The main conclusion of the study performed is that lawmakers have not sufficiently examined the issue of imposing administrative liability on vehicle owners for the offenses, recorded by special technical equipment, operating in the automatic mode, which leads to some problematic aspects in legal regulation of relevant administrative relations.

scholarly journals Criminal law measures of ensuring the security of the crypto sphere

2019 ◽  
Vol 3 (1) ◽  
pp. 155-162
Author(s):  
Oleg Stepanov ◽  
Denis Pechegin
Keyword(s):  
Criminal Law ◽  
Foreign Currency ◽  
Modern Society ◽  
Developed Countries ◽  
Legal Regulation ◽  
Financial Asset ◽  
Financial Instruments ◽  
The Us ◽  
Draft Bill ◽  
The Cost

In the first issue of the Bratislava Law Review magazine for 2018, our article addressed the problem of legal regulation of relations related to the crypto sphere “Failure to repatiate funds in foreign currency from abroad and modern issues of currency regulation” was published. In December 2017, Bitcoin predicted the cost of $ 40 – $ 100 thousand. However, in 2018, the situation changed-the Bitcoin exchange rate began to lose from $ 0.5 to $ 1 thousand per day, and its market capitalization fell to $ 70 billion. The crisis of the crypto market has affected not only the capitalization of cryptocurrencies, but also the issues of legal regulation of relations associated with its use. Currently, only three countries – Sweden, the Netherlands and Japan – recognize cryptocurrency as a legal means of payment. In Spain, the cryptocurrency is classified as an electronic means of payment only in relation to the gaming business. The legislation of Germany, as well as Finland, allows to classify cryptocurrencies as financial instruments. In China, Singapore and Norway cryptocurrency is considered as a financial asset in the US – as property, i.e. developed countries are in no hurry to equate cryptocurrency to means of payment. In Russia, the use of cryptocurrencies is not regulated by any rules, but there is no legislation prohibiting the circulation of cryptocurrencies as means of payment. At the same time, the draft bill “On digital nancial assets”, designed to regulate financial relations in the crypto sphere, completely excludes the issues of mining and circulation of existing crypto-currencies. However, new electronic entities carry certain risks associated with their turnover. In this regard, many States seek to develop mechanisms to ensure the security of actions in the new crypto sphere of legal relations before the direct legalization of cryptocurrencies and other modern electronic entities. The purpose of the article is to analyze the approaches related to the security of the crypto sphere in modern society by criminal law measures taking into account foreign experience.

STALE GOLD-BEARING TAILINGS OF THE BALEIZOLOTO PLANT AND THE PROBLEM OF THEIR DISPOSAL

2021 ◽  
Vol 27 (4) ◽  
pp. 45-54
Author(s):  
G. Yurgenson ◽  
◽  
L. Shumilova ◽  
А. Khatkova ◽  
◽  
...  
Keyword(s):  
Negative Impact ◽  
Chemical Elements ◽  
Raw Materials ◽  
Precious Metals ◽  
Gold Content ◽  
Residential Areas ◽  
Extraction Technology ◽  
Useful Components ◽  
Technogenic Raw Materials ◽  
Gold Bearing

The relevance of the research is the need to recultivate the waste from the enrichment of gold-bearing ores that lie in the immediate vicinity of the residential areas of Baley city, which have a negative impact on the environmental situation in it, as well as to develop a technological approach to the extraction of gold and silver. The purpose of the study is to study the material composition and develop a technology for extracting precious metals. The object of the study is the stale tailings of the ZIF-1 plant “Baleizoloto”. The subject of the study is mineral composition of stale tailings, content of useful components and their extraction technology, the method and methodology presented by mineralogical and chemical analyses of enrichment tailings. Results. The analysis of the tailings dumps’ state of the gold recovery factories of the Baleizoloto plant was carried out. The contents of gold and other chemical elements, among which arsenic, zinc, copper, antimony, and lead predominate, were determined. The gold content prevails in the stale tailings of the ZIF-1 factory, which processed the ores of the Baley deposit, and is in the range of 1.09-1.37 g / t, on average – 1.17 g/t. This determines the prospects for their primary processing. The gold in the clay-sand fraction of the stale tailings is mainly found in thin accretions with quartz, carbonates, pyrite, arsenopyrite, sulfosols, and tellurides. The field of application is processing of technogenic raw materials. Conclusions. It was determined that the sizes of gold inclusions are in the range of 0.7-0.03 mm, the gold penetration varies from 63 to 91.15, and on average is 82.13; the main impurity in gold is silver with a content of 8.85-37%; the average silver content in the tailings of the ZIF-1 factory is 1.85 g/t; the recommended technological scheme for processing stale tailings of ZIF-1 of the Baleizoloto plant has been developed, including the following operations: photoelectron-activation preparation, pelletizing with active solution, heap leaching, two-stage sorption with bubbling with ozone

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