STRATEGIC INSTRUMENTS OF THE DEVELOPMENT OF STOCK MARKET INFRASTRUCTURE INSTITUTES

2019 ◽  
Vol 4 (3) ◽  
pp. 67-76
Author(s):  
Andrii NIMKOVYCH
Keyword(s):  
Stock Market ◽  
Technology Implementation ◽  
Analytical Data ◽  
Economic Feasibility ◽  
Securities Market ◽  
Market Participants ◽  
Blockchain Technology ◽  
Money Transfer ◽  
Small Investors ◽  
Market Infrastructure

The article investigates the problem of ensuring the functioning of the securities market infrastructure of Ukraine. The analysis had been conducted through the prism of securities market participants' protection. The author has proposed to introduce the institute for protection of small investors in the stock market by the way of reorganization of the Deposit Guarantee Fund like in the Estonian and Lithuanian models. The Fund is tasked with the following in order to support the infrastructure of protection: to accumulate funds, to invest in managed funds and to pay insurance payments promptly in the case of an insurance event. On the basis of analytical data, the results from the implementation of the Fund are determined: accumulation of budgets to guarantee protection, increase in the value of securities in circulation, protection due to compensation of the guaranteed sums to small investors and the actual income from the functioning of the Fund. Another aspect of using strategic tools in stock market infrastructure is «FinTech» and blockchain technologies. Using of these technologies and the leading positions of Ukraine in the world are emphasized. Advantages of the blockchain technology implementation into the stock market infrastructure of Ukraine and economic feasibility are shown. The obligatory availability of electronic infrastructure for both the state and individual participants of the stock market is substantiated for the effective functioning of modern financial instruments. The author demonstrates the advantages of implementing blockchain technology in the stock market infrastructure of Ukraine and economic feasibility. Positive aspects of cooperation of powerful financial companies and blockchain institutions are shown, as well as problems of non-regulation of this issue in the Ukrainian legislation. A special place in the economics of stock market infrastructure is given to innovative money transfer systems. It has been found that the use of the Ripple system can form the basis of the infrastructure for quick and much cheaper internal payments in the stock market. Key words: stock market, infrastructure, institutions of infrastructure, guarantee fund, investments, blockchain technologies, «FinTech».

scholarly journals EXCHANGE INDICES AS ACTIVITY INDICATORS STEEL MARKET

2018 ◽  
Vol Vol 17 (Vol 17, No 1 (2018)) ◽  
pp. 100-115
Author(s):  
Tatyana Sitash
Keyword(s):  
Stock Market ◽  
Investment Strategy ◽  
The State ◽  
Securities Market ◽  
Stock Index ◽  
Foreign Markets ◽  
Market Participants ◽  
Steel Market ◽  
Market Infrastructure ◽  
Fully Functioning

The stock indices are investigated as indicators of stock market activity. It is proved that the stock market is one of the most attractive instruments for investing. It is accepted that an open stock market in a country characterized by a stable, strong economy, encourages the attraction of foreign investors. It is noted that indicators of the Ukrainian stock market such as the capitalization and the PFTS stock index (First Stock Trading System), as a result of the inadequate exchange rate prices for the real state of the issuing companies and the economy of the state, can’t be as representative, especially when compared with foreign markets. It has been outlined that the development of the domestic stock market is restrained by the imperfection of legislative and regulatory regulation of the market participants, the lack of optimality of the market infrastructure, the lack of a fully functioning, fully functioning national depository system. The introduction of a new stock index describing the state of business activity of a separate sector of the market is proposed, which will serve as a benchmark for the formation and optimization of investment strategy of investors, will promote transparency of the Ukrainian securities market.

OPERATIONS OF COMMERCIAL BANKS IN THE SECURITIES MARKET: PROBLEMS AND DEVELOPMENT TRENDS

2020 ◽  
Vol 4 (11) ◽  
pp. 83-87
Author(s):  
D. A. RABADANOVA ◽  
◽  
Z. M. KHASBULATOVA ◽  
A. I. GAZANOVA ◽  
◽  
...  
Keyword(s):  
Stock Market ◽  
Commercial Banks ◽  
Financial Stability ◽  
Point Of View ◽  
Securities Market ◽  
Analysis Tool ◽  
Sources Of Information ◽  
Market Participants ◽  
Low Degree ◽  
Professional Market

The article analyzes the current position of commercial banks of the Russian Federation on the securities market. The main analysis tool is the use of a method for collecting and processing publicly available statistical information. The sources of information were scientific articles by various authors on the research topic, official materials of the Bank of Russia, reporting data of Sberbank of Russia as a specific example when considering the selected topic. The work is relevant due to the need to determine the importance and role of commercial banks in the securities market and identify growth trends. For the work, the activities of banks were considered from the point of view of their participation in the stock market as issuers, investors and participants. According to the results of the study, it was found that the issue of bonds is the main type of issuing activity of the bank as an issuer. As investors, they tend to invest in debt and Central Bank securities with a low degree of risk. This choice ensures the reliability of banks and forms additional sources for the development of the securities market without significantly increasing risks. Analysis of commercial banks as professional market participants revealed a negative trend in the number of participants as stock market participants. The main result of the work carried out is to identify the need to expand the activity of commercial banks in the securities market, which will increase liquidity and financial stability.

scholarly journals Evolution of Professional Participants in Russian Securities Market

2019 ◽  
Vol 29 (3) ◽  
pp. 416-424
Author(s):  
Irina Alekseeva ◽  
Ksenia Ovchinnikova
Keyword(s):  
Stock Market ◽  
Financial Market ◽  
Public Involvement ◽  
Scientific Literature ◽  
Regulatory Framework ◽  
Securities Market ◽  
Sharp Decline ◽  
Investment Activity ◽  
Market Participants ◽  
Domestic Stock

The securities market is one of the most important segments of the financial market of any state. The development of the Russian securities market can be judged on the basis of the development of its participants, their evolution. An analysis of today’s economic scientific literature shows an insufficient coverage of the evolution of professional participants in the domestic stock market. The article considers the changes in the composition of professional participants of the securities market, analyzes the regulatory framework that have given rise to these changes. It brings forth the reasons for the changes and expectations of financial market participants from the changes, presents the dynamics of the number of over the period of 2008–2018. The article reveals a sharp decline in the number of professional participants, determines the causes of this trend. It places an emphasis on the significance of including the investment advisors in the ranks of professional participants of the securities market in order to increase public involvement in the investment activity.

scholarly journals DIRECTIONS OF OFFENSE PREVENTION IN THE STOCK MARKET OF UKRAINE

2021 ◽  
Vol 3 (38) ◽  
pp. 437-446
Author(s):  
M. Blikhar ◽  
V. Vovk ◽  
N. Shevchenko ◽  
T. Kokhaniuk ◽  
Z. Dobosh
Keyword(s):  
Stock Market ◽  
Jel Classification ◽  
International Organization ◽  
Main Body ◽  
Infrastructure Development ◽  
State Institutions ◽  
Market Participants ◽  
State And Local ◽  
Professional Market ◽  
Market Infrastructure

Abstract. The article considers the legislative and regulatory documents which outline the features of detecting offenses in the stock market of Ukraine. The main offenses in the domestic stock market have been formed, and the subjects, objects and types of sanctions for offenses have been considered. It is determined that the main body in the field of detection and prevention of stock market violations is the National Securities and Stock Market Commission (NSSMC), which considers cases of offenses, regulates the activities of issuers and financial intermediaries, prepares reports on stock market operations, carries out licensing of professional participants and provides cooperation with state institutions, state and local authorities in the field of crime prevention. An analysis of offenses in the stock market of Ukraine during 2017—2019 has been carried out. The main directions of stock market offenses prevention are outlined, namely: imposition of financial sanctions, revocation or suspension of licenses of professional participants, issuance of orders and resolutions, increase of fines in the stock market, prevention of price manipulation. Proposals were made to improve the activities of the Stock market infrastructure development agency, in particular to form a single complete and detailed base of issuers, professional participants, offenses, foreign investors and large securities holders. It is proposed to reduce violations in the stock market through active cooperation with the International Organization of Securities Commissions (IOSCO). In general, we can conclude that there is no critical situation in the field of offenses in the stock market of Ukraine, as evidenced by analytical studies. Keywords: offenses, stock market, license, issuer, professional market participants, National Securities and Stock Market Commission. JEL Classification G18, K22, K40, K49 Formulas: 0; fig.: 4; tabl.: 0; bibl.: 16.

The Situation of Securities Maket Supervision in Vietnam

2021 ◽  
Vol 37 (1) ◽  
Author(s):  
Dao Thi Thu Trang
Keyword(s):  
Stock Market ◽  
Risk Control ◽  
Risk Identification ◽  
The State ◽  
Securities Market ◽  
Supervision System ◽  
Market Surveillance ◽  
Market Participants ◽  
The Past ◽  
The Stability

In order to ensure the transparency as well as the efficiency and maintain the stability of the securities market, the supervision system needs to be established with the goal of detecting, preventing and handling violations of regulations, laws enacted by the State. In Vietnam, the State manages the securities market and assigns the securities market supervision task to the State Securities Commission (SSC). Over the past time, the SSC has implemented several supervision operations and obtained certain results. However, the monitoring results also showed that the number of violations on the stock market tended to increase, reports on stability and risk identification were not yet or clear. Some reasons come from the limitations of the market surveillance system such as the lack of close coordination between the stock market supervision with banks, insurance, and the supervisory authority cannot develop the overall risk report form. Potential as well as systematic risk, control of different accounts of stock market participants is loosened, supervision focuses on issues with complaints or duplicating supervision that cause many subjects. It is possible to take advantage of the monitoring gap to make violations more sophisticated. The research results provide solutions to complete the supervision system of Vietnam's securities market to achieve the targets set in the coming time.

scholarly journals THE IMPACT OF DIGITALIZATION ON THE DEVELOPMENT OF FINANCIAL INSTRUMENTS IN THE RUSSIAN STOCK MARKET: LEGAL ASPECTS

2020 ◽  
pp. 83-89
Author(s):  
D. V. Lubyagina
Keyword(s):  
Stock Market ◽  
Financial Market ◽  
The United States ◽  
Legal Regulation ◽  
Legal Aspects ◽  
Securities Market ◽  
Financial Instruments ◽  
Blockchain Technology ◽  
Russian Stock Market ◽  
The Impact

The article is devoted to the topical issue of the introduction of digital financial instruments and the use of blockchain technology in the securities market, which is supposed to make the stock market more transparent and reduce the risks of participants. The main legislative trends in the development of digitalization in the financial market are considered. Attention is drawn to the characteristics of certain relatively recently introduced new financial market instruments, the features of legal regulation of their circulation and the problems that arise when using them in practice (for example, the United States as a pioneer in these issues). In connection with a whole package of legal acts aimed at regulating relations in the financial market in the conditions of digitalization, the issue of further prospects for the development of the securities Institute is considered, and the problem of justifying the division of securities into documentary and non-documentary as financial instruments with different legal regimes is raised.

FUNCTIONING OF THE EXCHANGE MARKET UNDER THE INFLUENCE OF THE DIGITALIZATION OF THE ECONOMY

2020 ◽  
Vol 2 (11) ◽  
pp. 96-101
Author(s):  
B. А. DEMILKHANOVA ◽  
Keyword(s):  
Stock Market ◽  
Financial Stability ◽  
Technological Development ◽  
Digital Technologies ◽  
Securities Market ◽  
Exchange Market ◽  
Large Circle ◽  
Secondary Markets ◽  
Leading Role ◽  
International Stock Markets

In the article, from the standpoint of reasons and necessity, the qualitative and quantitative characteristics of the key trends in the development of the stock market in Russia are disclosed. The leading role is assigned to the processes of computerization of the exchange market: the introduction and use of digital technologies that ensure the financial stability of the financial market as a whole, its security and transparency, as well as access of a large circle of investors to banking and financial operations, and the protection of their interests. It has been established that the processes of introducing and using digital technologies, organically built into the mechanism of the functioning of the securities market as a whole, determine the directions of development of such trends as innovations, diversification of stock market instruments, securitization, integration with international stock markets, etc. key trends influenced by the technological development of the stock market, lead to blurring the boundaries between the primary and secondary markets.

Through the Lens of Recession 2.0: Diversification Dynamics Between the Leading Asian Stock Markets

2021 ◽  
pp. 097226292098395
Author(s):  
Manu K. S. ◽  
Surekha Nayak ◽  
Rameesha Kalra
Keyword(s):  
Stock Market ◽  
Stock Markets ◽  
Market Integration ◽  
Developing Economies ◽  
Positive Impact ◽  
Global Market ◽  
Stock Market Integration ◽  
Developed Economies ◽  
Market Participants ◽  
Causality Tests

The focus of this article is to analyse the inter-linkages between eight leading stock markets in Asian continent from the period of July 2011 to February 2018. This period holds relevance as this was the time when Recession 2.0 set in, which adversely affected the developed economies; however, the developing economies withstood the crisis without much of an impact. Co-integration and Granger causality tests were conducted to probe the inter-linkages. Study revealed a positive impact on Asian stock market indices collectively on each of the indexes. The highest number of unidirectional causalities was to KOPSI and NIFTY from rest of the stock indices. Results confirmed that no co-integration relationship existed among the selected indices indicating favourable diversification opportunities. Thus, the study fosters global market participants and policymakers to consider the nitty-gritties of stock market integration so as to benefit from international stock market diversification in the Asian region.

scholarly journals Light a lamp and look at the stock market

2021 ◽  
Vol 7 (1) ◽  
Author(s):  
Radeef Chundakkadan
Keyword(s):  
Stock Market ◽  
Financial Distress ◽  
Investor Sentiment ◽  
Downside Risk ◽  
Bond Yields ◽  
Risky Assets ◽  
Market Participants ◽  
Market Return ◽  
The Impact

AbstractIn this study, we investigate the impact of the light-a-lamp event that occurred in India during the COVID-19 lockdown. This event happened across the country, and millions of people participated in it. We link this event to the stock market through investor sentiment and misattribution bias. We find a 9% hike in the market return on the post-event day. The effect is heterogeneous in terms of beta, downside risk, volatility, and financial distress. We also find an increase (decrease) in long-term bond yields (price), which together suggests that market participants demanded risky assets in the post-event day.

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