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. dealers engaged in transactions on the stock exchange on its own behalf and at its own expense.degree of openness of exchanges is directly related to its trading strategy. Most often, the openness of exchange used for advertising purposes or for the recovery of trading. In addition, the openness of exchanges can be attributed to lack of development of the exchange mechanism to withhold non-professional participants of the exchange market.the exchange of trade leads to a more closed nature of the activities, focuses on professional growth, the formation of business relationships based on mutual trust between trading, which requires limiting the number of casual visitors and constant cooperation on the exchange. In addition, the closed nature of the exchanges in line with its concept as an organization (association) selling (agents), created to provide trade and cater to their interests, and not to attract investment capital. Therefore, for the exchange, which protects the interests of trade, the closed nature is more preferable., The Russian currency and stock exchanges are closed, and trade can be both closed and open, although in accordance with the statute, most commodity exchanges applies to private.on the place and role of stock exchanges in world trade, their functions and their orientation to the market can be divided into international and national.exchanges are a special kind of permanent wholesale market, covering several states, which are made of the sale of certain commodities. They cater to specific global commodity and stock markets. In such exchanges may include representatives of business circles of various countries. Distinctive features of international exchanges are providing free translation of the profit received on exchange transactions and speculative conclusion (arbitration) transactions, which allow a profit on the difference between the quoted price on the stock exchanges in different countries. The country, where international exchanges must comply with the appropriate rate, trade and tax regimes to ensure that their activities. International exchanges are divided into commodity, stock and foreign exchange.exchanges operate within a particular state, take into account the peculiarities of the production, circulation and consumption of goods inherent in the country. Monetary, fiscal and trade regimes of the State impeded arbitrage and participation in exchange trading firms and individuals - non-residents of the country where the exchange., Depending on the scope of the exchange in the country can be divided into central (capital) / inter-regional and regional (local). The Russian stock exchanges, their location and the nature of the activities of some are not oriented to the regional characteristics of commodity and stock markets, economic regionalization of the country.the nature of transactions entered into by the world practice identifies the following types of exchanges :
. real goods
. futures
. Optional
. mixedexchange is typical for initial stock trading, its distinctive features are considered a regular renewal of trade, commerce confinement to a certain place and subordination to the rules, trade, mass, homogeneous, to compare the quality of goods. On the spot exchange transactions carried out in the absence of the commodity as such on the basis of its d...
