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.

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».

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.

STOCK MARKET IN A PANDEMIC, TRENDS IN ITS DEVELOPMENT AND IMPACT ON THE ECONOMIC ENVIRONMENT OF STATES

2021 ◽  
pp. 60-73
Author(s):  
Vladimir M. Gribanich ◽  
Keyword(s):  
Stock Market ◽  
Stock Exchange ◽  
Cash Flows ◽  
The State ◽  
Securities Market ◽  
Source Data ◽  
The Impact ◽  
Graphical Presentation ◽  
Official Information ◽  
Systematic Collection

The article is devoted to the analysis of the development of the stock market, its stages of development and the impact on the economic conjuncture of countries. The relevance of studies on the development of the stock market in modern realities is growing every day, the number of transactions also grows steadily despite the pandemic, and that forms huge cash flows. The purpose of the study carried out in the article is not only to identify the influence of the stock market on the development of countries in modern conditions, but also to conduct a statistical analysis of data reflecting the state of the main stock exchange indices in a pandemic, as well as to assess the state of the securities market in 2019 and 2020 and work out forecasts for its future development. Several methods were used in the work: analysis of official information sources, statistical observation (systematic collection of information), grouping of the source data, their graphical presentation, as well as building diagrams.

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.

The Development of China's Stock Market, 1984–2002. By Stephen Green. [London and New York: RoutledgeCurzon, 2004. xv+287 pp. £65.00. ISBN 0-415-32466-1.]

2004 ◽  
Vol 178 ◽  
pp. 513-514
Author(s):  
Laixiang Sun
Keyword(s):  
New York ◽  
Stock Market ◽  
Institutional Economics ◽  
Convincing Evidence ◽  
Fund Raising ◽  
The State ◽  
Market Participants ◽  
Short Period ◽  
Pessimistic Scenario ◽  
Private Investors

Does the spectacular development of China's stock market present a theoretical puzzle? On one hand, within a short period of a little more than a decade (1990–2002), the total capitalization of the market grew from a negligible size to a level equivalent to more than 50 per cent of the country's GDP, and even if excluding non-floating shares held by the state and legal persons, the capitalization level was still equivalent to some 16 per cent of GDP. On the other hand, until very recently few of the institutions that underpin successful stock markets elsewhere were present. This seems to be in contradiction to the teaching of neo-institutional economics, which holds that only when the state is credibly committed to clarifying and defending functional institutions will people feel confidence enough to engage in complex transactions like stock trading. Does this imply a paradox? The author argues in this book that it is not so straightforward.The book provides detailed and convincing evidence to show that the impressive growth of China's stock market since 1990 has been to a great extent a result of policy-driven development favoured by a lack of alternative investment opportunities for increasingly wealthy private investors. Chinese companies in general viewed stock listing as a privilege and a fund-raising mechanism. Market participants perceived that the quality of listed companies was generally poor but that investors were protected because of the constant financial and policy supports provided by both local and the central governments. As a consequence, market participants had little incentive to pay much attention to corporate governance and other fundamentals. Would such features lead to a pessimistic scenario, meaning that the development would not be sustainable? Not so simple, the author suggests.

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 FINANCIAL RISKS OF THE BANK ON THE STOCK MARKET

2019 ◽  
Vol 7 (2) ◽  
pp. 71-75
Author(s):  
Вадим Макаров ◽  
Vadim Makarov
Keyword(s):  
Stock Market ◽  
Commercial Banks ◽  
Investment Strategy ◽  
Securities Market ◽  
Financial Risks ◽  
Financial Instruments ◽  
Composition And Structure

The article describes the role of commercial banks as professional participants of the stock market and presents an analysis of the activities of PJSC "SBERBANK" in securities market. As part of the analysis, the composition and structure of the Bank's assets were considered, the risks of the investment strategy were determined; the Bank's investments in financial instruments were evaluated, grouped by portfolios and by types of securities. Based on the study, priority directions of the investment strategy of PJSC "SBERBANK" on the stock market is determined.

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.

scholarly journals Relationship between the Exchange Rate and Macroeconomic Instability Before and After the Tunisian Revolution

2019 ◽  
Vol 5 (04) ◽  
Author(s):  
Youssra Ben Romdhane ◽  
Mohamed Ben Amar
Keyword(s):  
Exchange Rate ◽  
Stock Market ◽  
The State ◽  
Stock Index ◽  
The Political ◽  
Adjustment Process ◽  
Long Term Effects ◽  
Political Uncertainty ◽  
Macroeconomic Instability ◽  
The Exchange Rate

The year 2011 has been marked as a major turning point in the Tunisian modern history from different perspectives. The popular uprising and the fall of the former regime in January led the country into a period of political and economic instability that has notably affected the national stock market. In this respect, the present study aims at investigating the dynamic links between the yield on the stock index and the macroeconomic instability in an environment characterized with political uncertainty. In a bid to analyze the political uncertainty’s impacts on the stock market and on the macroeconomic aggregates, mainly on the inflation and the exchange rate before and during the 2011 revolution, we consider it useful to implement an empirical testing on the nature of interaction binding these associated variables. To this end, a specified an error correction model is estimated to examine the period 1984-2016, to help highlight the short and long-term effects associating the considered variables. The reached results proved to indicate that the Tunisian Dinar (TND) exchange rate remains noticeable the variable which continued to undergo an adjustment process following the inflation and the political uncertainty related dynamics. The financial indicator “Tun-Index” is discovered to be not only weakly exogenous, but also closely associated with a “rate of endogeneity” that stands as noticeably lower than the exchange rate. In effect, the strong inflation the state had with eased throughout the economy during period 2012-2016 entailed remarkable devaluations of the TND to take place. Actually, such a significant devaluation turns out to have its exploration in the political uncertainty predominates the state affairs.

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