The infrastructure of the global financial market 2. 1 Basic facilities of the infrastructure 2. 2 Legal infrastructure of the global financial market 2. 3 Information infrastructure of the global financial market
Basic facilities of the infrastructure The infrastructure of financial market is a set of organizational elements to ensure its normal functioning. Major infrastructure systems are: - trading system; - settlement system; - accounting system.
Basic facilities of the infrastructure • Depository - a legal entity that provides services to professional participants of the financial market for the storage of financial instruments regardless of their release with the corresponding deposit record of the transfer of ownership to them. • Registrar of securities (or the holder of the registry). They are a legal entity engaged in the collection, recording, processing, storing and providing data on the register of holders of securities of the issuer.
Legal infrastructure of the global financial market World model of financial market regulation has the purposes of: 1) identification of disadvantages in a particular area of the financial market; 2) support efficient market segments; 3) protection of consumers of financial markets and services; 4) stabilization of the financial system and its development
Legal infrastructure of the global financial market There are State regulation of the financial market and Self-regulation. • State regulation is the regulation, under which the functions of establishing standards, market development, monitoring, supervision and investor protection are carried out by different authorities. • Self-regulatory organizations - participants of the market enabling law to apply the standards they have developed for its members.
Legal infrastructure of the global financial market • • • An important role in the regulation of global financial markets play: UN specialized agencies (the International Monetary Fund (IMF), World Bank Group, United Nations Conference on Trade and Development (UNCTAD), the United Nations Industrial Development Organization (UNIDO), the International Chamber of Commerce, the International Federation of Stock Exchanges); World Trade Organization (WTO); International Organization of Securities Commissions; International Organization authorities supervision of financial markets; Paris and London clubs of creditors; regional financial institutions.
Information infrastructure of the global financial market All information systems that ensure the functioning of the global financial market, are divided into three major groups: • Trading systems are electronic networks, which produce data and filing of applications for operations to buy or sell financial instruments. • Dealing system provides its users with real information on market supply for the operations with different financial instruments. • Information systems provide transmission of information, not a market demand.
Information infrastructure of the global financial market International information systems are for gaining the online information about financial market’s situation and global financial news. • Reuters – English company, which is the leading news agency and financial information. • Data. Broadcasting Corporation (DBC) – American company, representing financial, political and sport information online through the satellite connection (Signal Broadcast), cable network (Signal Online), and FM radio. DBC is the leading provider on the market of information services in real-time regime around the US.
Information infrastructure of the global financial market Win Money is an example of the system, developed and launched in by the Interbank financial house. The system allows to receive online the conditions of all segments of financial market.
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