market of Ukraine into the world economic space and strengthening of international
monetary and financial relations. An urgent need for Ukraine is the improvement of
the financial market and the segment of stock market of financial derivatives, which
will enable stabilization of the national economy when it enters the global space.
The further development of stock and over-the-counter markets of financial
derivatives depends directly on the effectiveness of the allocation of effective
approaches to the foreign experience of the functioning of the financial derivatives
market. In view of this, it will be expedient to study the most optimal for the
introduction of foreign experience in certain stages of the formation of financial
derivatives markets, taking into account the current national specifics of the economy.
A large number of financial derivatives and simultaneously different hybrids are
in circulation along with the main financial assets (stocks and bonds) in the world
practice on the financial market. Financial derivatives on world markets are generally
not issued for the purchase of additional capital but in order to hedge the risks of
possible losses from the ownership of the underlying financial assets. The most popular
financial derivatives on the world's leading stock exchanges, which are now fully used
in practice, are futures, options, swaps, swap options. Futures (futures) provide the
opportunity to buy or sell any financial instrument in the future at prices fixed at the
time of execution of futures contracts. A security paper does not necessarily have to be
as the main basis: it may be interest rates, foreign currency, fiscal or credit payments,
etc.
The option is also largely similar to the futures, but its execution is not required
if you are a buyer. That is, he gives his owner the right, but does not impose on him
the duties of execution of transactions. In the last two decades, the stock market of
financial derivatives was characterized by radical transformations and rapid growth.
Consolidation processes is an important condition for the development of the global
stock market of financial derivatives in modern conditions. Therefore, the
improvement of the domestic financial derivatives market should also begin with the
study of the peculiarities of the processes of world stock exchange consolidation with
the aim to introduce this feature in the practice of the domestic stock market.
It should be noted that the tendency of consolidation or merger of the world stock
exchanges on the financial market began as a result of the emergence of a tight
competition for the best technological equipment, which resulted in the transformation
of stock exchanges into share ownership form. This provided the sale of shares and the
attraction of investments in the development of stock exchanges. Such a process was
initiated in the late nineteenth and twentieth century.
For the first time the acquisition of the German stock exchange Deutsche
Terminborse and the Swiss Optionsand Financial Futures Exchange took place in 1998,
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