Kinds of exchanges: stock exchange and participants of the stock exchange
There are the following Kinds of exchanges: stock, trade, depending on the subject matter of the agreements made on them deals. They have their own specifics and certain properties. In this Chapter we look at the stock exchange.
Kinds of exchanges : stock exchange is used for trading shares and bonds of private organizations, government promissory notes, bills of exchange, exchange and precious metals. The stock exchange is a mediator in the securities market. She constantly takes part in tenders, carrying out activity on the organization of trade. In the following chapters we consider in detail the meaning of «the professional participant of the securities market». And now let's go ahead and get acquainted with the peculiarities of the us type of exchanges.
Stock exchanges are closed to the sec. And therefore, they can only trade participants in these exchanges. In the world of the legislation indicates that participants of the stock exchange may be only professional members of the securities market. To the participants of the stock exchange, subject to the requirements of: as the stock exchange, and law. Often in the legislation are General requirements, and the regulatory documents of the stock exchanges particularize them, making additional requirements. Also provide penalties, carried out in violation of these regulations, and the procedure of collection. And here is the amount of fees charged by participants of the stock exchange for transactions, remains at their own discretion. The responsibility of the exchange is the approval of the procedure and the rules of admittance to participation in the auction and, in fact, the conduct of these trades.
Participants of the stock exchange have the following possibilities:
to perform the functions of the dealer, trading on its own behalf and for their money or on behalf of the client and at his expense (singing brokerage functions);
to participate in the management of the stock exchange and in its meetings;
to participate in the electoral process management and controlling bodies of the exchange, as well as to be elected to any of the posts.
In addition, participants of the stock exchange should be provided with information about places and time of bidding, the list and prices of securities, which will participate in the auction at the stock exchange. Stock exchange must also provide the publicity of the results of the trading sessions.
