ORGANIZED SECURITIES MARKET IN UKRAINE: CURRENT STATE AND DEVELOPMENT PROSPECTS

Abstract

The article is devoted to the current state and prospects of the Ukraine securities market development assessment. In particular, the stages of development of the domestic stock market are considered. It is indicated that the first stage is characterized by the policy of non-interference of the state, the lack of a single concept for a long time. The second stage of this development is accompanied by more active and constructive participation of the state, aimed at the development of market infrastructure, the formation of legal support and regulatory system. The development of the securities market as a necessary element of the infrastructure of a market economy is a sensitive indicator of ongoing economic processes, an important stimulator of economic development, so the financial market is analyzed by its major segments and relevant financial instruments. The paper identifies a number of problems that form obstacles to filling the domestic securities market with financial resources. The main obstacle to more active development of the securities market in Ukraine is the underdevelopment of the market as a whole. Problems that create obstacles to filling the domestic securities market with financial resources are also systematized and generalized. The dynamics of domestic and world stock market indices is analyzed in the work. The analysis of the state and the dynamics of the domestic stock market are investigated. In particular, there is realized the analysis of the volume of trades on the securities market, the volume of exchange contracts with securities on the stock market of Ukraine. The volumes of issues of equity securities registered by the National Commission on Securities and Stock Market are considered. This analysis of the domestic stock market state and dynamics shows that it is in the formation process, and progress in its development is still slow. The directions of Ukraine securities market perspective development are offered, among which: the effective capital markets regulation system creation at the state level; ensuring compliance with these conditions and preventing fraud; formation of an open and transparent information environment of the securities market; stimulating the investment funds development; increasing the level of the population competence on stock market issues; trade technologies active improvement and electronic document management introduction. Keywords : stock market, financial instrument, state regulation.