lled by the government (represented by the Bank of Russia), in contrast to other types of exchanges. World experience shows that currency trading is combined with securities trading and is held on the stock exchanges.exchanges - a permanent wholesale market of perfect competition, which according to certain rules, transactions of purchase and sale of a qualitatively homogeneous and easily interchangeable products.
Stock exchanges prevail at present. The most active trading in the securities held in the Moscow stock exchanges in St. Petersburg, Rostov-on-Don, Samara, Nizhny Novgorod, Novosibirsk, Vladivostok, Yekaterinburg, Chelyabinsk and Saratov.to the principle of the organization (the state's role in the creation of stock exchanges) there are three types of exchanges overseas:
. public law (state of the exchange);
. private law (private exchange);
. Mixed Exchange.wearing public law nature, controlled by the government and created on the basis of the Exchange Act. A member of a stock exchange is open to any owner of the area, which is included in the trade register and with a certain amount of turnover. Persons who are not members of the exchange, are also permitted to effect transactions in accordance with their Individual tickets purchased.exchanges are common in Europe (France, Belgium, the Netherlands). With private law character, inherent in England, the United States. These exchanges is granted only to a narrow circle of persons belonging to the stock exchange corporation. The number of members of such exchanges is limited. Exchanges of this kind are generally mutual societies. Their share capital is divided into a certain number of units (the certificate). 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.Exchange are also characteristic of continental Europe. The most widely they were among the stock exchanges. For example, the Vienna Stock Exchange. For such exchanges characterized by the fact that in the hands of the state is part of the shares of the exchange (if it was created as a joint stock company), which gives him the right to direct the management bodies of the executive power and thus control the activity of the exchange.to the form of participation in the auction exchange visitors may be closed and open.trading on the stock exchanges closed its participating members, acting as stock brokers, so direct access to buyers and sellers in the trading floor is closed. Modern exchanges abroad are mostly closed, as exchange trading carries a high level of risk and requires a high level of professionalism.trading on the public markets except for regular members and exchange intermediaries may be involved and visitors. In this open exchange are of two types:
Clean («perfect») an open exchange where counterparties are not obliged to use intermediaries. They can not be, because on such exchanges shall have free access to the Stock Exchange to ring buyers and sellers, ie it is characterized by direct links producers and consumers (buyers and sellers);
An open exchange of mixed type, which is directly with sellers and buyers of the transaction may enter into two groups by:
. brokers working on behalf of u by the client...
