ФІНАНСОВО-ЕКОНОМІЧНІ ОСОБЛИВОСТІ ФОРМУВАННЯ ТА ФУНКЦІОНУВАННЯ ВІТЧИЗНЯНОГО БІРЖОВОГО РИНКУ

Abstract

The article shows the state of the stock market of Ukraine, as well as the problems of it’s functioning and the study of possible ways to solve them. The stock market of Ukraine does not have a single policy of its development, and it also has certain shortcomings that create a problem for its development, since the stock market is improving and integrating into the world space every year. The main problems that hinder the development of the market are highlighted, in particular: insufficient transparency of the domestic stock market, imperfect legislation, unreliability of information about the activities of stock market participants, regulatory regulation, insufficient market capitalization, unstable situation in Ukraine, and others. An interesting fact is that exchanges cannot engage in commercial mediation, the profit of exchanges must be directed exclusively to their own development. The study of the activity of global stock exchange structures allowed us to come to the conclusion that the American model of state regulation of stock markets has been adopted in Ukraine. The article also examines the main trends in the development of global stock exchange trade and suggests the main directions for improving the efficiency of stock exchange activity in Ukraine. Statistical data on the profitability of the fixed capital of stock exchanges of Ukraine were analyzed and during the research it was found that the majority of enterprises do not consider the stock exchange market as the basis for the formation of their financial resources, which leads to a low level of capitalization of stock exchanges. In adverse current situation in Ukraine, as well as the deepening of integration processes, which potentially carry risks for the national economy, the effective functioning and development of the stock market, including stock exchanges, is a necessary condition for ensuring economic stability in the country. The stock market should function as a regulated element of the integrated financial system, synchronized with the banking sector and the public finance system. Despite the rather high dynamics of transformation, ukrainian stock market is still at the stage of formation and development.