The Position and Importance of Stock Exchange Market and Central Securities Depository as the Inseparable Part of the Capital Market of the Slovak Republic

Abstract

From an economic point of view, we understand the capital market as a set of institutions and transactions, and the supply and demand mechanism for medium and long-term money capital. This is the part of the financial market in which securities move and is part of any functioning market economy. The law allows the trading of securities in other public markets other than exchanges (as well as closing those trades outside the public markets). Of these public markets, the stock exchange has a special position because it acts as an organized securities market. The functionality of an exchange as an organized market is ensured by various partial systems that, in their entirety, cover all stock market activities as a market. The most important of these is the Central Securities Depository, which keeps a record of securities in the Slovak Republic. The aim of the authors is to analyse the current situation, status and tasks of the Stock Exchange in Bratislava and the Central Securities Depository, using multiple scientific methods to confirm or reject the hypotheses, critically point out selected shortcomings in their status and activities and even suggest solutions.