Economic Bulletin of the National Mining University




Issue:2019 №4 (68)
Section:Economic theory
Article language:Ukrainian
Title:Features of transformation processes in international exchange trade
Authors:Blahodatnyi A. S., National University of Life and Environmental Sciences of Ukraine,
Muzychenko A. S., Central Ukrainian Scientific and Technical University
Annotation:The article considers the role of the commodity exchange as an innovative and institutional element in the development of international commodity markets. The current trends in the development of the international commodity exchange market are determined, the volumes of world futures and options for 2018–2019 are compared, the number of outstanding contracts and their changes are investigated. The transformation processes inherent in the international commodity exchange are considered and characterized. The structure of the international exchange market by geographical regions is displayed. The volumes of trading activity in various regions were analyzed with the percent change in 2019 compared to 2018. The analysis of trade in futures and options of the capital index, trading in interest rates, energy futures and options, precious metals is made. The results of the activities of the largest world exchanges on the volume of exchange trade in 2018–2019 are presented. The volume of trade of the Inter-Continental Exchange, due to the low level of activity at all its subsidiary exchanges in Europe, North America and the Asia-Pacific region, was chosen as one of the criteria examined. The current state of exchange trading in Ukraine is analyzed, obstacles to the effective functioning of the country's stock exchanges are revealed. The article considers the development of commodity exchanges in Ukraine in recent years, indicating the trends in their development. Groups of goods are identified whose trade will create favorable opportunities for the development of the commodity exchange market of Ukraine. Statistical information on the number and structure of exchanges by specialization is examined, their characteristics are provided, and their role in the development of the stock exchange market of Ukraine is shown. Conclusions are drawn on the role of the stock market in a market economy. The international experience of trading on exchanges is investigated and the stages of the evolution of the exchange market from the fair to the modern electronic exchange market with its advantages and convenience are highlighted. Obstacles to the development of exchange trading in Ukraine were identified, proposals were formulated for the successful development of exchange trading in accordance with international experience and national characteristics. 
Keywords:Commodity exchange, Futures, Option, Stock trading, International commodity exchanges, Agricultural products, Market infrastructure, Stock exchange
File of the article:EV20194_073-081.pdf
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