Electronic Trading Research Articles

Особливості формування інформаційно-комунікаційного забезпечення бізнес-процесів суб’єктів малого підприємництва

The article defines the features of formation of information and communication support of business processes of small business entities. It is noted that as an independent socioeconomic phenomenon, small entrepreneurship in Ukraine develops in difficult conditions of the establishing market economy and faces numerous problems. Small enterprises receive some support, but a competitive entrepreneurial type of business has not yet been entitative. As before, the main goals of Ukraine’s economic policy remain the achievement of full employment, economic growth, support of the national currency, preservation of foreign economic balance and improvement of the living standards of the majority of citizens. An organizational and economic model of the use of information and communication technologies in the business processes of the small business entity has been built. It is specified that the main elements of information and communication support of business processes of small business entities should comprise: goals and objectives; objects and subjects; management functions; performance indicators; principles; methods; instruments; mechanism; terms of security; culture of use; requirements of internal and external stakeholders of business entities. It is further noted that in the modern economy there are all opportunities for the expansive development of economic entities. Today, increased competition reduces the profitability of products (services), and new network technologies make the market more transparent. The Internet can be very useful for national companies, as it simplifies strategic decision-making when doing business and choosing development strategies. It is noted that today small businesses can also use electronic trading platforms, online auctions, websites of the tax and customs administrations available on the Internet. In general, modern ICTs allow small business entities to reduce operating and transaction costs, as well as keep prices low to make them global. It is concluded that the introduction of new information and communication technologies in internal and external communications of small businesses during martial law in our country will lead to the development of small business entities, optimization of business processes, improvement of quality and competitiveness of products (services).

ИСПОЛЬЗОВАНИЕ ЭЛЕКТРОННЫХ ТОРГОВЫХ ПЛОЩАДОК ДЛЯ УВЕЛИЧЕНИЯ ОБЪЕМА СБЫТА ПРОДУКЦИИ РОССИЙСКИХ КОМПАНИЙ

The expediency of Russian manufacturers' participation in electronic auctions is due to the need to increase sales, expand business ties, and search for new partners, which is quite relevant in modern economic conditions. To study the impact of participation in electronic auctions on the performance of an individual company, a typical joint–stock company was chosen - a representative of a medium-sized business that produces products mainly for the needs of communications and medicine. At the same time, the most promising is the study of the activities of electronic trading platforms in Russia and Belarus, as the most accessible to Russian companies. It was on the example of these sites that proposals were considered in order to select orders for products corresponding to the nomenclature that the company chosen for the analysis could offer. An important issue in the study was the justification of the procedure for choosing contracts in which the company under study could win over competitors. To do this, the authors propose the following actions: after selecting the most promising sites, it is necessary to consider specific contracts involving the supply of products manufactured by this company, taking into account the possibilities of additional production; contracts with commercial attractiveness and economically justified in terms of the effectiveness of additional production and sale of the company's products are selected as preferred; The prices of the products offered in the contracts are compared with the prices at which the company could offer products, taking into account the cost of production. Based on the fact that a company offering products at prices lower than competitors' prices may not always win the competition, it seems advisable to study the probability of such victories, on the basis of which the number of contracts that this company can conclude is predicted. The results of the research conducted by the authors demonstrated that participation in electronic auctions contributes to achieving the desired goal, namely, the search for new partners, and the growth of sales volumes.

ELECTRONIC STOCK TRADING GUARANTEES

The electronic trading of shares is one of the modern technical systems through which the sale or purchase of shares is carried out through the new electronic means of communication. which contributes to the speed of access to information to investors and ease of dealing in the stock market. and the investor should be aware and familiar with the rules that govern trading in the market through knowledge of the legal rules that regulate the trading process as well as the rules set by the legislator to regulate the control of the trading process. which is one of the important guarantees for the implementation of For the same reason. the legislator limited trading operations to the broker through the technology it provides for the trading process with market knowledge and specified the duties of the broker. which. once one of them breached. was subjected to legal liability. Based on the foregoing. we decided to divide the research into two sections. the first section deals with the control of electronic trading of shares and the second section deals with the responsibility of the broker

Expansion of Communication Contact Between the State, Business and Society in the Republic of Kazakhstan

Main problem: digital transformation of Kazakhstan’s society leads to emergence of new communication business models, including the so-called proactive data-based service, which implies expansion of communication contact between the state, business and society. Digital transformation of economic sectors and the service sector has objectively caused discussion of issues related to various aspects of its implementation. These include digitalization of society spheres within framework of public administration [1], problems of interaction between business and government [2], mechanisms of interaction between subjects in the private-public partnership model of government and business [3], description of communication models of business types, government and public sector [4], history of emergence of electronic trade, its forms and types of goods delivery to a consumer [5], organizational and managerial relations and processes arising in enterprises, working in field of online marketing and e-commerce [6]. In Kazakhstan, digitalization of spheres and the economy sectors is one of strategic priorities of its development. Use of information and communication technologies in the service sector creates additional impulses to its dynamics, therefore, has impact on improving population’s life quality. In this regard, it is necessary to identify trends and patterns of communication interaction between the state, business and society, to consider and clarify their content. The purpose: the research of state and trends in the development of Kazakhstan service sector under the influence of digital solutions and expansion of communicative contact between the state, business and society. Methods: the performed analysis in the research is based on the materials of the statistical reviews and their analysis using the methods of grouping, generalization, logical analysis, system description and interpretation. Results and their value: a range of the key problems of communication interaction between the state, business and society is investigated and determined. Recommendations are proposed to accelerate the development of e-commerce in Kazakhstan as a tool for communication interaction between business and society and improving population’s life quality.

PERCEPTION OF FARMERS ABOUT E-NAM AND DIGITAL MARKETING APPLICATIONS

In India, a slew of market-distorting laws and regulations stymie the growth of an integrated agricultural market. In 2016, the Indian government launched National Agriculture Market, or e-NAM, is a pan-India electronic trading system, that integrates the current APMC mandi to establish a unified national market for agricultural commodities, allowing farmers to sell their produce at the highest prices accessible anywhere in the country. The study was conducted in three districts of Telangana to examine the perception of farmers about e-NAM and digital marketing applications covering a random sample of 90 farmers. It is found that e-NAM creates a platform for farmers with an efficient supply chain to sell their produce anywhere to get a remunerative price and abolish fragmented markets. It also has considerable potential to increase competition, remove information asymmetry, and promote real-time price discovery. The majority of the farmers were having a medium level of perception about the use of e-NAM and digital marketing applications. It can be inferred that there is a need to create awareness, increase knowledge and educate the farmers as to how the e-NAM and digital marketing applications bring advantages to the marketing of their produce which will help them improve their livelihood and income level.

REGULATION OF E-COMMERCE OF MEDICINES IN UKRAINE: LEGAL AND ACCOUNTING ASPECTS

The availability of medicines, their quality, efficacy and safety in Ukraine are recognized as the COVID-19 pandemic and Russian armed aggression, the provision of medicines to the population and increasing their availability in Ukraine are becoming integral components of the state healthcare policy aimed at creating a patient-centered system, as implemented in developed European countries. E-commerce of medicines has become one of the new activities of pharmacies. As Ukraine has a large medical market and rapid digital development, e-pharmacies are becoming increasingly accessible and popular among customers. Electronic commerce in medicines (e-pharmacy) is a pharmacy that fulfills a consumer's order placed via the Internet. Despite the obvious convenience, strict regulation of activities and sufficient legislative basis, the procedural stages of selling medicines remotely remain unregulated. The main advantages of e-commerce of medicinal products in Ukraine include convenience and accessibility, a wide range of products, nationwide delivery, and expert advice. At the same time, the organizational and legal regulation of electronic trade in medicinal products in Ukraine does not regulate all the specifics of such trade, which could potentially threaten public health and safety. Further regulation is required for the delivery of prescription medicines; quality assurance of medicines; protection of the end user from violation of the rules for the sale and delivery of medicines, as well as from counterfeit and fake medicines; regulation of the issue of bringing a person to legal liability for violation of the rules for the sale and delivery of medicines; regulation of the issue of peculiarities of the use of payment transaction registers during the delivery of medicines.

The impact of dividends on stock prices for the period (2016-2021) (Ashur International Investment Bank) A case study

The research aims to analyze the relationship between dividends and stock prices based on some financial indicators specific to the study sample, namely (earnings per share, dividend payout ratio, market value of the stock to return with growth) and their impact on Ashur International Investment Bank share prices. The research found that there is a direct relationship between undistributed profits and the share of dividends per share, and an inverse relationship between the share of dividends per share and the number of shares traded. The research recommended the need to develop trading, clearing and settlement systems using electronic trading systems to raise the efficiency and speed of dealing in securities and increase transparency. And security for dealers, and the introduction of the remote trading service in order to enable brokerage institutions to complete transactions from their offices without the need for the presence of their representatives in the market.

Electronic Tranding Platform and Data Flow

This article discusses the features and trends of process of development and creation of a multi-functional electronic trading platform is aimed at efficient and profitable interaction of suppliers and buyers. Interaction takes place through electronic communication systems, so it is always operative and relevant. Electronic trading platform is a complex of information and modern technical solutions. There are several types of electronic trading platforms - for commercial customers, for placing government orders. The sites on which electronic transactions are performed by commercial customers are divided into specialized and multi-profile. Users, participants of the sites, held auctions and trades themselves can decide on which of the sites it is more convenient and profitable to work with. In addition, on a multiprofile resource the customer can act as a supplier, the seller - this is dependent on the scope of his activities, on the possibilities.

Роль цифровизации на мировом валютном рынке

In recent decades, digitalization has been taking place in all spheres of public life. It generates keen interest in the study of the possibilities provided by new technologies. Taking into account the importance of currency relations for the economy of any country and the world economy as a whole, it is relevant to study the impact of digitalization on the foreign exchange market. The article defines the development and use of electronic trading systems, the emergence of blockchain technology, cryptocurrencies, stablecoins, and the issuance of digital currencies by central banks as the main areas of influence. It is shown that changes in the foreign exchange market associated with the improvement of trading systems lead mainly to positive consequences: an increase in the speed of currency exchange transactions, reduced risks and costs for the participants, and an expansion in the volume of annual deals. Possibilities and risks for cryptocurrency users in calculations and investment are characterized, as well as possibilities of increasing the speed, reducing the cost, and diversifying the currency structure of international settlements with digital currencies of central banks. It is concluded that it is necessary to develop legal regulation of the procedure for issuing and functioning of cryptocurrencies, international settlements using digital currencies of central banks, and the creation of reliable measures to protect against cyber threats.

Development of the Russian e-commerce market and its individual segments in figures

Subject. The article investigates the electronic trade in tangible goods in general and its individual segments as a rapidly developing type of economic activity, contributing to the gross product of the country. Objectives. The purpose is to compare the e-commerce development in Russia and abroad, analyze the development of the Russian market for 2011–2022, compare the development of Russia’s e-commerce as a whole and its individual segments in the period after COVID-19. Methods. I employed statistical methods of analysis, like relative comparison indicators, analytical and average indicators of time series (growth rates, absolute changes in the levels of time series, average rates). The annual reviews of online commerce by Data Insight analytical agency served as information base of the study. Results. I performed a comparative analysis of the e-commerce development in Russia and in some foreign countries in terms of turnover of e-commerce in dollars, the volume of e-commerce per capita, the share of e-commerce in the country's GDP, the share of sales in global volume, the share of online buyers in the total population of the country. The paper analyzes the development of the Russian market for 2011–2022; presents a comparative analysis of e-commerce as a whole and its individual segments. Conclusions. Russia ranks second after China in terms of the growth rate of trade turnover in GDP. In the post-COVID-19 period, the growth rates slowed down, however, the upward trend continued. The indicators of universal marketplaces showed exceeding the average annual rates for Internet commerce as a whole, their market share was steadily increasing. The FMCG segment accelerated further, and the pharmacy market lagged behind other e-commerce segments in terms of growth rates.

Strategy To Increase The Competitiveness Of Umkm In The Tourism And Creative Economy Sector Of Samosir Regency With Go-Digital And Transformational Leadership

MSMEs in the tourism sector play an important role in business development and continue to contribute to economic strength and social development in various countries, one of which is Indonesia, and support each other and contribute to generating foreign exchange for the country. The euphoria of the world community has caused tourism visits to increase, especially after Indonesia officially hosted World Tourism Day or World Tourism Day 2022, which had the impact of becoming increasingly well-known to the tourism sector, especially Samosir Regency. This research took a population of 462 MSMEs in Samosir Regency with a sampling technique, namely cluster random sampling with a sample size of 150 MSMEs in 2 Districts of Samosir Regency. Data sources include secondary data originating from relevant agencies and primary data directly from business actors. Data collection techniques use interview documentation and questionnaires. The research results showed that the influence of Go-digitalization and transformational leadership was positive and significant on competitive strategies for MSME actors in the Tourism and Creative Economy sectors of Samosir Regency. The development of digital technology is increasingly rapid, especially after the pandemic disaster. This also encourages community actors to shop online. It's no wonder that electronic trading platforms are selling well as people's choice for shopping and transactions. MSME digital acceleration is carried out to build competitiveness so that MSMEs can be stronger. Transformational leadership is the process of mobilizing all one's abilities to influence, move, direct other people. Transformational leadership is a process of mobilizing all one's abilities to influence, move and direct other people. The suggestion from this research is government support to encourage and provide assistance to business actors so they are able to compete with other tourism industries. One form of support is for the government to provide space for learning to realize technological literacy through outreach and training to business actors. Then we need to utilize new marketing strategies, actively producing goods that consumers can buy directly for the types of products that are currently on the rise during the pandemic.

Fraud prevention subjects in the sphere of electronic commerce

The article analyzes the main approaches to understanding the concept of «crime prevention subjects», defines the system of fraud prevention subjects in the field of electronic commerce in Ukraine, examines the normative basis of the functioning of the Cyber Police Department of the National Police of Ukraine with the aim of highlighting the main provisions that characterize the relevant body as fraud prevention entity in the field of electronic commerce. It is noted that the scientific field of modern fraud research needs constant empirical updating and theoretical understanding in the field of criminology and victimology, in particular, in the part of fraud research in the field of electronic commerce and trade.
 The basis of scientific criminological analysis was a complex combination of philosophical (in particular, dialectical), general scientific (synthesis, analysis, induction, deduction and generalization) and special scientific methods.
 The article defines the range of fraud prevention subjects in the field of electronic commerce. The theoretical principles and legislative framework regarding the tasks and responsibilities of authorities and law enforcement agencies in the field of prevention of such a criminal offense have been studied. It was established that due to the lack of special bodies for the prevention of fraud in the field of electronic trade, the lack of established, coordinated, purposeful interaction between existing entities, the system of entities for the prevention of fraud in the field of electronic trade is not perfect.
 It was concluded that fraud prevention subjects in the field of electronic commerce are multidisciplinary. Ways to improve the legislation of Ukraine in the specified area are proposed, the development of which will allow the development of conceptual state policy measures to combat fraud; and create an action program for law enforcement agencies.

Deep Learning Approach in Anti-Phishing Technology

A significant rise in electronic trade, or consumer-to-consumer online transactions, has occurred recently as a result of advances in Internet and cloud technologies. Malware, phishing, ransomware, man- in-the-middle attacks and other techniques are just a few of the ways cybercriminals utilize to begin a cyber attack. Phishing is a form of social engineering or a cyber security assault in which nefarious actors send messages acting as reliable individuals. Phishing attacks use complex strategies, techniques, and technologies to obtain sensitive data, including content injection, online social networks etc. Real-time identification of phishing sites is challenging with the available anti-phishing tools. Therefore, a protected and open system is required that allows the user to directly verify the site. The long short- term memory (LSTM) algorithm and the convolutional neural network (CNN) were combined to develop a hybrid deep learning model (LCR). The goal of this research was to develop a web browser named Phishing Detection Browser (PD Browser) that can identify phishing attacks using deep learning. Keywords— Phishing, Anti-Phishing, Deep learning, Hybrid Deep Learning Model

Revolutionizing Foreign Exchange Market: A Critical Analysis of Blockchain's Opportunities and Challenges

The fast use of blockchain technology, cryptocurrencies, and electronic trading has had a profound influence on the world's foreign exchange market, creating both difficulties and potential for market regulation and exploitation. Blockchain has the capability to completely transform the foreign exchange business by bringing improved transparency, efficiency, and security. Blockchain allows for the construction of transparent, tamper-proof transaction records since it uses distributed ledger technology. Lately, Blockchain technology and Forex trading have experienced tremendous growth in popularity in recent years, but it's important to remember that they also include hazards that investors need to be aware of. The goal of this study is to determine how blockchain technology might be applied to boost the Forex market, highlighting the advantages of decentralization, efficiency, security, and transparency. This study aims to explore the potential contribution of blockchain technology to the foreign exchange market. The research employs a literature review and analysis approach to investigate the relationship between blockchain technology and the foreign exchange market. The findings of the study indicate that blockchain technology has the potential to revolutionize the foreign exchange market. The paper concludes that the use of distributed ledger technology enables the creation of transparent and tamper-proof transaction records, addressing existing challenges of transparency and security in the Forex market.

Legal mechanism for the sale and purchase of land as a component of the land market in Ukraine

The article is sanctified to generalization of legal mechanism of process of purchase and sale of lot lands in Ukraine.On the basis of analysis of normative grounds of purchase and sale of lot lands in Ukraine certainly, that it has a process two sides (auction or agreement), basic signs that determine maintenance of process of purchase and sale of lot land are set: pattern of ownership, subject, that acquires right, terms of the use of lot land, desire of parties of agreement, presence of arrest or other obligations in relation to lot land.Certainly, that more simple and less expense on time procedure of purchase and sale of lot land looks on a civil agreement. Normative principles of process of purchase and sale of lot land are determined as a result of combination of requirements of the Landed code of Ukraine and Civil code of Ukraine.On the basis of analysis of land and civil legislation the actions of salesman of lot land – legal of peculiar subject are systematized - in case of her sale on a civil agreement as an algorithm of actions. It is marked that lot land can be the article of agreement in relation to a purchase- sale only if she answers the requirements of civil legal relationships (presence of cadastre number and registered right of ownership). Attention is accented on the choice of notary and preparation of necessary documents.The authors establishes the multifactorial nature of the process of selling a land plot (or the right to it) at an auction. The authors identifies the entities participating in land auctions and establishes that the main instrument for implementing land auctions is an electronic trading system owned by the State. Based on the generalization of the provisions of the Land Code, the author formulates the procedural procedure for the sale of a land plot on a competitive basis.A comparative analysis of the processes of selling a land plot under a civil agreement and at an auction is made, which shows that the procedure for selling a land plot at an auction is more complicated and time- consuming than when it is sold under a civil agreement with the participation of a notary.The authors emphasizes the importance of the state significance of the procedure for sale and purchase of land plots and rights thereto.

Information management in electronic trading processes in a Federal Institution of Higher Education

Introdução: O pregão eletrônico é uma modalidade de licitação para aquisição de bens e contratação e serviços comuns sendo obrigatório sua utilização pelos órgãos públicos, incluindo as Universidades Federais. O pregão eletrônico é composto por informações de valor estratégico para aprendizagem organizacional e a melhor tomada de decisão. Esta pesquisa teve como objetivo analisar como se caracteriza a gestão da informação nos pregões eletrônicos em uma Instituição Federal de Ensino Superior. Métodos: O estudo foi realizado na Universidade Federal de Alagoas, maior instituição de ensino público do Estado de Alagoas. Tratou-se de pesquisa descritiva com abordagem qualitativa, foram entrevistados treze servidores públicos que atuam nos pregões eletrônicos como instrumento de coleta de dados. Foi realizada análise de conteúdo como método de investigação de dados. Resultados: Foram identificadas as principais necessidades de informações dos servidores nos pregões eletrônicos como sendo: descrição do material ou serviços, cotação de preços e finalidade da aquisição. As fontes pessoais foram as mais utilizadas pelos servidores na resolução de dúvidas no processo. Não houve um acesso fácil a informações de outros setores e os produtos e os serviços de informação estavam desatualizados e pouco detalhados para alguns usuários. Conclusão: A pesquisa é relevante pois analisou a gestão da informação na instituição, podendo trazer melhorias no uso da informação, na elaboração de produtos e serviços de informação a partir de necessidades informacionais dos solicitantes de compras.

Legal Comparison of Electronic Contract in Electronic Commerce Between Indonesia and the United States Based on the United Nations Commission on International Trade Law

Objective: The importance of an electronic deal is the validity of the electronic information contained in it. The real reality that occurs in cyber activities is complex because such deeds are no longer limited to the territory of any other country.
 
 Method: The United Nations Commission on Global Trade Law (UNCITRL) model law on electronic trade was established as a fundamental rule for regulating the validity, recognition, and results of electronic messages based on the use of computers in trade activities. Indonesia and the United States are among the member states of the UNCITRL state that can actively participate in the drafting of the UNCITRL Agreement and adopt model legislation. The aim of this learning was to compare the regulation of electronic contracts in Indonesia and the United States by referring to the UNCITRL model law on electronic commerce. The legal research methodology used in this study is the standard legal approach using statutory methods and conceptual methods.
 
 Results: The results show that although both Indonesia and the United States have adopted some provisions of the UNCITRL Model Act in the field of electronic commerce, they have different legal implications.
 
 Conclusions: The Electronic Information and Transaction Act – commonly known as UU ITE in Indonesia – focuses on the use of report technology and the Internet to ensure the security and privacy of electronic transactions, as well as to provide legal guarantees to technology users. UETA focuses on legalizing electronic communications, including electronic contracts, to remove as many barriers to electronic commerce as possible.

Implementation of the Electronic System for Collection of Value-Added Tax on Trade: Appointing Foreign and Local Companies as Collectors

The large number of offers of services and goods in utilizing digitalization is the background for the PMSE VAT policy in increasing state income broadly and evenly. PSME's VAT policy is also faced with the challenge of creating equality in terms of paying state contributions between traditional businessmen and economic activities that use the internet or among domestic businesses. Selection Appointment of entrepreneurs to collect electronic trade with PKP who have not been appointed as collectors creates inequality in terms of paying taxes and reporting SPT where every company appointed as PMSE collector is required to report reporting in accordance with rules and policies. This study aims to determine the PMSE VAT collection policy through the appointment of local digital companies that have and have not been appointed as PMSE VAT collectors in paying attention to the principles of a good taxation system and knowing the level playing field of local companies that have and have not been appoint PMSE VAT collector based on the theory of fairness. The type of assessment in this thesis uses qualitative methods with literature studies and interviews. Informants in this study were staff of the fiscal policy agency, staff of the directorate general of taxation, lecturers and tax consultants. The conclusions obtained explain that the policy in collecting electronic sales tax to pay attention to the principles of a good taxation system has not been properly fulfilled.

The Impact of Covid-19 on Electronic Trade (E- Commerce) and the Resulting Problems in Albanian Taxation

Covid-19 radically changed the way of living and working, significantly slowed down the development of economic activity, but on the other hand it caused an increase in e-commerce and the acceleration of the digital transformation. At a time when isolation and quarantine were in effect, businesses and consumers as a form of survival switched to the digital network, offering and buying more goods and services online and thus also increasing the e-commerce activity. Based on statistical data, over 20% of businesses in Albania managed to market their products electronically, thus changing the concept of traditional buyers to online buyers. It is worth noting that all this change in consumer behavior seems to be permanent and not temporary. All this change in the economic life of the country, in the way of doing business, needs fiscal intervention, since in the Albanian market the electronic commerce is being seen as an opportunity to avoid taxes. At the same time, there have been interventions in the fiscal package by setting a settled price range for online purchases coming from abroad. This has been justified as an intervention to protect local business. This paper aims to analyze how Covid-19 accelerated the increase in the convenience of online shopping in Albania, making possible the rapid development of e-commerce activity. The research methodology will be based on a market study in the form of a questionnaire addressed to consumers and aims to identify the factors influencing their online purchases, online payments, digital connectivity, changes to physical purchases, etc. Also, the paper will identify the difficulties and obstacles of the implementation of electronic commerce in Albania in the aspect of the individual and the business, focusing on the problems of today's market.

TRANSFORMATION OF BRAND MANAGEMENT TASKS IN THE CONTEXT OF EXPANSION OF TRADING PLATFORMS

The rapid growth of electronic trading platforms (aggregators and marketplaces) has caused a significant transformation of the market of goods, works and services. At the same time, the new opportunities and amenities that sellers have, as well as the reduction of current costs when using marketplace trading platforms, have a reverse side. Among the emerging problems are the market dictate and the rigid framework of interaction used by these digital platforms, the need to address issues of intellectual property protection, as well as a significant limitation of the possibility of strengthening your own brand and partial loss of communication with end customers. The solution to these problems is possible either by adapting to the hegemony of marketplaces according to the umbrella scheme, which, ultimately, is expressed in the loss of identity, or through the use of an integrated approach in marketing policy that differentiates sales activities.