THE ACTIVITY OF THE ELECTRONICSTOCK EXCHANGE SYSTEMS IN THE DOMESTIC MARKET OF FINANCIAL INVESTMENTS

Abstract

Purpose – the research and the analysis of the activity of the electronic stock exchange systems in the domestic market of financial investments. Methodology of research. The methods which were used during while working on the article: the analysis – for research the activity of the electronic stock exchange systems in the domestic market of financial investments; specifications – for research of the development phases of the online brokerage in Ukraine by criterion of tariffing and the order of the opening of accounts before beginning of the auction; the graphic and statistical methods – for the representation of the structure of the Ukrainian exchange auction, branch structure of an index basket, dynamics of the electronic auction on the Public Joint Stock Company "PFTS stock exchange", the dynamics of the results of the auction on the PFTS. Findings. The activity of electronic stock exchange systems in the domestic market of financial investments is examined. In the context of the studied problem the order of the development phases of the online brokerage in Ukraine by criterion of tariffing is given; the comparative characteristic of online trade on domestic and the international markets of financial investments is provided. The detailed analysis of the electronic auction in two domestic exchanges is carried out, namely for the Ukrainian Public Joint Stock Company" PFTS stock exchange". The model of an entering to Internet trading was constructed by the results of the research. It was noted that the process wasn’t difficult though the important necessary condition was the existence of the defined starting capital for implementation of the electronic auction. On the basis of the statistical data the structure of the auction in the Ukrainian exchange and the branch structure of the index basket are shown. Originality. The complex assessment and the analysis of the activity of electronic stock exchange systems in the domestic market of financial investments has received its further development. Practical value. The analytical assessment of the activity of electronic stock exchange systems in the domestic market of financial investments which is carried out in the article, can be used by the National commission on securities and stock market and also by territorial authorities of the National commission on securities and stock market. It will provide information transparency of the domestic market and government agency control of online trade. Besides, the order of the account opening till a beginning of a trade and the model of Internet trading can be used by initial online dealers.