Main problems of the derivatives market in Ukraine and ways to solve them

Abstract

This article highlights one of the key problems of the financial market of Ukraine – the development of the derivative securities market. The relevance of the study of the problems of the market of derivative financial instruments based on the example of Ukraine is substantiated. Special attention is paid to the study of the scientific works of Ukrainian researchers and scientists, their results and the significance of these works for Ukraine. The article also highlights interesting approaches and relevant information on the basis of which this research was conducted. The main types of derivative securities (forward and futures contracts, options, swaps and warrants) and their key features are characterized – essence, terms of conclusion, functions and significance for the market, roles of participants in these operations, etc. The use of these derivatives is explained, with advantages and disadvantages indicated. The principles of the functioning of the derivatives market in Ukraine are also described and researched, the main types of derivatives concluded on the Ukrainian financial market over the past few years and the prevailing trends in this area are mentioned. With the use of statistical data and comparative analysis, the dynamics of the main indicators of the Ukrainian derivatives market were studied, compared with some indicators inherent in the world derivatives market, and graphically interpreted. With the help of general scientific methods of synthesis, induction and deduction, the main differences between the indicators of the Ukrainian and world markets of derivative financial instruments, as well as possible reasons for their appearance, were determined. The main internal shortcomings of the derivative securities market in Ukraine are highlighted. The influence of the mentioned shortcomings was studied, the negative consequences of the pandemic and full-scale war on the dynamics of these indicators were proved. In contrast to the described shortcomings, attention is focused on successful participants of the derivative securities market and the results of their activities. Key trends were also displayed graphically. In conclusion, the intended strategy of our state in solving the existing problems of the derivatives market is described, and its own ways of solving them and accelerating the development of the derivative financial instruments market in Ukraine are proposed.