securities market - a complex system of relations between individuals and legal entities, which is based on operations related to the issue, redemption and conversion of securities.Securities - a means of raising capital.
main functions of the securities market, as well as any other market, are divided into two groups: general market and specific.Obscherynochnye function of the securities market determine the similarity of the market to other markets.A specific function of the securities market, on the contrary, allocate the market among others.
Specific functions of the securities market:
- redistributive (equity market plays an important role in perespredelenii money between different areas and industries; this feature also includes the transfer of money in productive form, financing the state budget);
- hedging (optional insurance of financial risks).
obscherynochnye function of the securities market:
- the price (the market plays an important role in the folding of the market price);
- commercial (income from a variety of operations carried out on the market);
- information (in the market there information about the different objects of trade, and in the future this information be communicated to the other participants in the commodity market and have a significant impact on them);
- regulating (in the market there are certain "rules", the practice of dispute resolution, management and control bodies).
securities market consists of several "mini markets": the stock market, bond market, the market of short-term bonds (GKO) market for government savings loan (OGSZ) market bonds (OFZ), bonds market currency loan market for treasuryobligations of the financial institutions, the certificate of the gold market, stock exchanges, securities departments of commodity exchanges.
addition allocate primary and secondary securities markets.In the primary market of securities for sale flourishes "svezhevypuschennoy" securities.The secondary market has two components: the stock exchange and OTC trading.Exchange trading takes place on the stock exchanges and OTC - a street trade.OTC trading is widely used in the West, while Russia dominated the first option.
The main purpose of the securities market - the accumulation of financial resources and their redistribution by the commission of a variety of transactions between market participants.At the same time to carry out all the operations required securities, iethe stock market is the intermediary between investors and issuers.
On the market there are different types of securities transactions.All transactions carried out several large groups of market participants.Firstly, it is the operators who carry out the purchase and sale of securities.Secondly, it is the organizers, who are responsible for quality work marketplaces.Third, are banks, depositories, clearing organizations, etc., which carry out accounting of mutual obligations.Fourthly, it registers that make entry in the register of shareholders on the owners of the Central Bank.
A security begins its journey in the primary market, where there is its initial public offering.The first investor buys a security, it has the right to resell, exchange etc.The dealer, who bought the paper, sells it at market price.
In the future, the paper falls to the secondary market, where there are all the subsequent operations.In this market, there is a redistribution of resources among investors.Where operations are carried out by dealers and brokers.Dealers working for themselves and brokers fulfill customer orders.For accounting of mutual transactions between them meet the clearing companies.Money list, banks, transition of securities from the seller to the buyer is carried out depository.Registrars record ownership of new customers in the registers.This is the simplest scheme of operations, which usually occurs on the securities market.
