Problems of functioning of securities trade organizers on the stock market of Ukraine

Abstract

Introduction. The effective functioning of the securities market infrastructure, the concentration of securities on the stock exchanges are essential issues for the country's economy. In particular, they are important for improving the transparency, liquidity and investment attractiveness of the domestic stock market, which will increase the volume of transactions, and, in turn, will contribute to the growth of fiscal revenue.The efficiency of the Ukrainian stock market is very low in comparison with developed countries. In Ukraine, evaluation of the effectiveness is considered from the position of analysis of the results of trading which have been received for a certain period of time.

Purpose. The aim of the article is to identify problems in the functioning of the domestic stock market by analyzing the activity of the organizers of the trade stockbroking and justification of measures to improve the efficiency of the securities market infrastructure in the interests of national interests of economic development in the global economy.

Method (methodology). Methods of collection and compilation of information are used to achieve the goal of the article. Retrospective analysis of the operations of trading securities has been carried out in order to study the influence of individual factors on the change in volume and structure of the trade operations.

Results. The current state of activities of the organizers of securities trading on the stock market is studied. Prospects for reform of the of depository and clearing institutions of infrastructure are defined. It is revealed that the Ukrainian stock market is characterized by small volume of the transactions. It is risky and low-profit. The cost of entry to it is excessive and is not covered by the proceeds from the exercise of professional activities. It is proved that the solution of the problems will help to reduce transaction costs in transactions between counterparties, to ensure stability, to continue the process of circulation of securities, to provide customers with the entire spectrum of consulting services regarding the issue, placement and circulation of securities, etc.