Specificity exchange market - Курсовая работа

Specificity exchange market 1. Exchange, its types and functions. Conjuncture of exchange market in practice exchange market product 1.1 MICEX Stock Exchange market Introduction The role of the exchange trade in the global economy and national economies of individual countries can not be overstated. Some Western economists believe the emergence of the modern commodity exchange, as the market is not performing the distribution of goods as well as financial institution that facilitates trade and reduces the cost of maintaining it, is equal to value of the industrial revolution at the end of the XVIII century, and see it as a planning and organizing force able to give the correct direction of the economy. The purpose of this course work is the definition of the exchange, its main differences from the market organization of trade. The paper lists the main features of trading. Also in the paper addressed issues relating to the place that occupies exchange activity in the economic life of society and the state. The definitions of the concepts of commodity and stock exchanges, the basic operations that are performed on them. The object of the course work is as follows: 1. Explore the concept of the exchange. 2. Consider the types of exchanges. 3. The features of the exchange activity. 4. Consider a commodity exchange and its functions. 5. To study the operation Stock Exchange. 6. To study the function of currency exchange. Exchanges related to organizational and technical field of human culture. Borrowing in this area (if they are done with the mind) are useful. No need for careful study, the experience of the western stock trading and implement this knowledge into practice. Just do not hamper economic creativity of the people dies and customized research results to other peoples designs. In all sources from which information was taken, all the authors emphasized the considerable role of exchanges in the formation of prices in the market system and the effect on her. Due to the fact that the Russian stock exchanges have been a number of stages of its existence, and in the history of their development has been on the downward and rebirth, the shift from quantitative to qualitative transition from trading cash commodity to a large number of transactions used in modern stock trading, many sources outdated and no longer relevant. 1. The essence of the exchange 1.1 The concept of the exchange Questions about what a stock exchange and which attributes are part of the notion of it, first of all, of course, important for the legislation. There is a particular need for a legal definition and differentiation of various trade meetings as economic importance and effectiveness of exchanges just obvious (enough to turn to traffic exchanges and compare them with the main macroeconomic indicators of the state of the economy (eg, GDP)). It is also clear that the exchange is a business entity and carries on business (stock exchange), mediating between buyers and sellers. In connection with this exchange has certain, but quite specific, rights and responsibilities. The specificity of the rights and responsibilities of all due to the same economic isolation and importance, and therefore the supervision of the state. In practice, the term exchange is primarily building, then the time (exchange continues with three to twelve), and finally, custom view of the market. Participants exchange trading. 5. the composition of the goods that are subject to exchange trading. 6. place and role in international trade. 7. sphere of activity. 8. the predominant form of transactions. In world practice, depending on the type of exchange commodity decided to allocate commodity (Commodity), stock, currency exchange. In Russia, a commodity exchange is considered as an organization with a legal personality, which forms the wholesale market through the organization and regulation of stock trading carried out in the form of open public auction, held at a predetermined place at a particular time fixed by the rules. Stock exchanges replace cumbersome, costly and inefficient hierarchical, vertical system of sectoral reallocation of financial resources. Therefore the Stock Exchange is a permanent regulated market of securities. It creates opportunities for the mobilization of financial resources and their use in long-term investments, manufacturing, government programs and debt. Currency exchanges are created for the organization and maintenance of the foreign exchange market, which, by their nature and role at the present stage the most tightly controlled by the government (represented by the Bank of Russia), in contrast to other types of exchanges. Each member of the exchange must own at least one share (certificate), which gives him the right to enter into transactions in the premises of the exchange.