Main types of security markets
Depending on various characteristics of the types of security markets are classified as follows:
Types of securities according to the term of existence:
term (term of existence is limited in time);
undated (term of existence is not limited in time);
Securities, issued for the entire term of existence of a person liable for him, not directly associated with any time period, and because they are undated paper. These are usually shares. Securities that are issued by for some limited period of time, regardless of the fact, he asked if the issue of securities or will be defined in the course of her treatment, are a group of term securities.
Term securities have installed on their issue date of the existence or the procedure for establishing this period. Usually the term paper is divided into three subspecies:
short-term, have a term of up to 1 year;
the medium-term, with circulation term of 1 year up to 5 years;
long-term, have a term of treatment from 5 to 30 years (mortgage-backed securities under the laws can be manufactured with a maturity of up to 40 years).
Term securities, term of circulation of which is not regulated, i.e. they exist until the maturity date of which is not quoted on the issue of the securities, and is set, only the order of their extinction (redemption), are revocable.
types of security markets in the form of:
paper, or documentary;
paperless, or uncertified;
The classical form of the existence of a security - this paper form, in which the security exists in the form of a document. The development of the securities market requires transition of many types of securities, primarily issued to the non-documentary form of existence.
types of security markets by national origin:
national;
foreign;
types of security markets by form of ownership:
bearer or the securities to bearer;
nominal, which contain the name of its owner and is registered in the register of owners of such securities;
Possession of a security may be registered or payable to bearer. Предъявительская valuable paper does not record the name of its owner, and its treatment is performed by a simple transfer from one person to another. A registered security contains the name of the owner and, in addition, be registered in a special register. Usually it is transmitted by agreement of the parties or by way of an assignment.
If a registered security shall be transferred to another person by making it the transfer of an endorsement), or the order of its owner, then it is called to order security.
types of security markets in the form of the issue:
equity, i.e. issued into circulation in large batches, within which all of the securities are identical;
non-equity, usually issued by a one-by-one or in small batches without state registration;
The issue of securities may be accompanied or not accompanied by their compulsory registration in the state administration bodies. Usually the state registration shall be issued securities, as well as their issue affects a large number of market participants. Under Russian law are subject to obligatory registration of the issued shares, bonds, Bank certificates are registered by the Central Bank) and the mortgage loans. Other types of Russian securities, regardless of the size of their issue, no state registration is required.
Equity securities are usually large series, which are subject to state registration. This is usually shares and bonds. Non-equity securities are issued without the state registration.
The kinds of securities by type of Issuer:
government securities is usually different types of bonds, issued by the state;
private, or corporate - are securities, which выпускаютсяв treatment corporations (companies, banks, organizations and even individuals.
Government securities - securities that are issued by the state. They occupy a special place in the range of securities.
The state is not a capitalist, and does not use the attracted through securities cash to generate income, it just redistributes them through the state budget or through its financial system, i.e., act as a mediator. Thus, government securities - this is not representative of a directly functioning of the capital, and a representative of the capital, which the state does not, which is a roundabout way back into the economy (through salary of civil servants, the military, the purchase of goods, for example, military equipment, etc.). Therefore, government securities - this is an indirect representative of real capital.
types of security markets on the level of risk:
low risk;
medium-risk;
high risk;
On the level of risk securities conditionally divided into low-risk and the risky ones. Risk-free - this paper, on which there is almost no risk. In the world practice - this is a short-term (term of 1-3 months) public debt (Treasury bills). All other securities on the level of risk is divided into low risk (this is usually government securities), среднерисковые (this is usually corporate bonds) and high risk (this is usually the action). There are also more riskier than ordinary shares and bonds, market instruments.
