Securities from the economic point of view

Securities from the economic point of view

The securities are the documents, which in the required details and compliance of the established form - certify the property rights, these rights shall be exercised or transferred, only after the presentation of valuable paper. determined that all of the rights associated with the securities transferred in together, from the moment of its transfer. In certain cases, the transfer of rights carried out by means of consolidating them in a special register (computerized or normal).
The world of trade divided into two groups: the goods (material benefit) and money. A group of money is divided on the money and capital, i.e. самовозрастающая value, or in a different view, money-generating new (more) money. Thus, the security is representative of like money, and capital, and goods.
Security from an economic point of view is a representative of the capital, and with the legal is the title of the rights of property and movable property.
Security is not always associated with such determination, as the representative of the capital. Previously, she just was a representative of the value of the pre-capitalist era, or a means of generally accepted payment system, for example the bill - was the first form of the securities and became the Foundation of the modern credit money.
The securities have not to be confused with money or material goods. Their value is at the expense of those rights that they can give to its owner. The future owner, acquiring such securities in exchange for goods or money, must be, I am sure that the paper is not worse at all, and even more convenient and better than the goods or money.
The issue, as well as the purchase and sale of titles of debt obligations and property titles, comes on the market of securities. The paper, which was released on the market, for the first time are placed in the primary market, and paper, which were already resold, are placed on the secondary market. For the organization and regulation of the securities market, there are stock exchanges.
Securities
Securities (shares and bonds), exist in the form of part of the value of or debt of the companies having their own price for which they buy and sell on the stock market. Now the majority of these securities in contrast to the previous paper of the species, available in electronic form, this is the type of entries on the special accounts of the organization's Depository. Securities are divided into two types: primary and derivative.
Also the paper can be divided into sub-species and subspecies share even further, for example, the action - this type of security, but it is divided into ordinary and preference share. The ordinary shares are in turn одноголосными and многоголосными, with a par value or no par.
Yet there is a kind of collateral, in the form of ownership, according to the type of Issuer, on the grounds of urgency, are divided into corporate and government.
And there is also a name ownership or possession of the bearer.
The compliance of security to the type of resource
Type of the resource: Land - The relevant security (Mortgage, mortgage bonds)
Kind of resource: the real Estate - the Relevant security (Mortgage, mortgage bond, a voucher, a housing certificate)
Kind of resource: the Property complex - the Relevant security (Share)
Type of resource: The products of the Corresponding security (bill of Lading, warehouse certificate)
Kind of resource: the Money - the Relevant security (Bond, note (T-note, the medium-term bond), the promissory note, certificate of Deposit, cheque, commercial paper, etc.)
Securities that do not have the respective document
In accordance with the law, a person having a special license may make the fixation of the rights, which are fixed nominal or other special security of, such securities can also be recorded and in non-documentary form, i.e. with the help of computer means. To these forms of fixation of rights apply the rules, which are set for the securities, but this feast may be other changes, arising from the peculiarities of fixation.
After that, when the person was carried out fixation of rights in uncertificated form, the holder of the right shall be issued the document, which testifies to the consolidated right.
The law defines and confirms the procedure for the performance of operations and by documentary confirmation of records and the procedure for official fixation of rights-holders and the rights of non-documentary securities. Operation with non-documentary securities may only be carried out with the agreement of the person, who commits an official records of the rights. Limitation, the provision and transfer of the rights of officially recorded this person, because it is responsible for the Commission of transactions conducted and the subsequent preservation of the official records, the correctness of the provision of these records and their confidentiality.
Securities and their types
In the modern world the existence of securities are divided into 2 classes: the main securities and derivatives (derivatives) of securities.
Derivative securities or derivatives on these securities is expressed by a non-documentary form (liabilities), which appears due to the changes of the prices of such securities (stock asset). In these securities include: swaps and options of free treatment, as well as futures contracts (index, interest rate, currency, commodity).
The main securities " on these securities is expressed proprietary right of any asset, the assets such as property, capital, money, goods and various resources. These securities are divided into 2-e subgroups: the primary and the secondary securities.
The primary securities - they are based on the assets of, for example, mortgages, promissory note, stock, bond, etc.
Secondary securities these securities are the guarantor of the primary securities (issued securities to the securities): Depository receipts, warrants on securities and etc.
Security in connection with the Russian civil law are classified according to the way of legitimation of the holder of the securities: the following order, nominal (ордерская); bearer (the security to bearer).
Measurement of risks of the securities
In practice it is known that the average level of this or another law is carried out, due to changes in risk, based on the calculation of deviation of the indicator, which characterizes the right of the security, from its average value. To do this, use the index or calculations, which are based on the dispersion or recent rejection. Consequently the risk will be lower, with small deviation of the average level of this or other law (or less variance).

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