Abstract
The article describes the main social, economic, legal and other preconditions and factors, which provided the historical peculiarities of Ukrainian stock market formation and development in 1991-2005. The article's actuality is as follows: formation of the market of equities has been and remains a necessary condition of reformation of property relations in modern Ukrainian society. The author distinguishes the stages of establishment of the market of equities and characteristic features of each stage. The article contains the analysis of basic tendencies, directions, features and problems of stock market development in Ukraine. The author examines the problems of governmental control of the stock market and formation of its normative and legal base during the transitional period. The author concludes that the process of stock market formation and development in Ukraine was complicated by unfavorable factors, conditioned by deep and long collapse of economics, faults in privatization politics and governmental control of the market of equities. The country's population majority did not participate in security-related operations during the transition period, and the market of equities did not perform the major duty of maintenance and increase of national economy. Unregulated stock market segment had the closest connection with real sector of economy and largely served the shadow sphere of economy of Ukraine.
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