Nemamiriro pawaitengesa kuchengetedzeka uye ayo pakawanda

An vakaronga kuchengetedzeka pamusika - wose zvoupfumi, iyo inowanikwa kugoverwa uye kudiwa kwavari. Kuchengetedzeka rakapa muchimiro blanks, siyana zvitupa. Vanogona kushandiswa varidzi misha uye sezvo rubatso. The Central Bank chinogona vakanyorwa kana mutakuri.

Vechikamu pamusoro exchange musika vari mubhizimisi masangano, issuers uye makambani. Exchange pawaitengesa kuchengetedzeka kwagara - chikamu chenyaya hombe musika zvemari, hwaishandiswa kutsanya activation kuti oupfumi siyana zvoupfumi sectors.

Urongwa kumusika pakati kuchengetedzeka anofanira zvine zvinhu zvinotevera zviri Statement: vatambi; musika (Stock Exchange uye OTC); dare vehurumende; Masangano pachake uye zvavo kwezvivako. The nemamiriro kuchengetedzeka musika yakaoma uye chinoumbwa nezvinhu zvakawanda, ane maitiro siyana. Naizvozvo, kuti vaongorore zvakanaka, unofanira kufunga mumwe chinhu zvakadzama. Ngatitange pamwe kuchengetedzeka pamusika masangano.

Nokuti musika vechikamu zvinosanganisira vanoita, issuers, nyanzvi masangano. Uyewo, pamusika wemari iri dziya CB: mumusika chikuru uye yechipiri. Pamisika chikuru, hwevatambi kuchengetedzeka akaisa wokutanga uye idzokororo nyaya pakati munhu vanoita ari kunyatsoteerera yakaganhurirwa uwandu. Panguva chikuru pachena pamusika kuchengetedzeka zvinowanikwa makambani ose iri chinotivhiringidza hwaro. musika The yechipiri riri rakakamurwa muzvikamu zviviri - kudanda Exchange uye OTC pamisika. kuchengetedzeka makuru yemakambani kutengeswa pamusika wemari, izvo anoenderana kumusika mitemo (vanofanira kubata vakawanda migove, akapa mwero rakavimbika). OTC musika kushanda nevamwe vanoita - makambani makuru, ane pandaida uye kukura vashoma havana kusvika akasimbisa zvinodiwa Exchange pamusika. Uyezve OTC musika kunoratidzwa yakakwirira chaizvo liquidity matanda siyana. Mune dzimwe nyika, bhuku OTC musika vakaenzana uye dzimwe nguva yekudyidzana mberi bhuku zvokutsinhanisa anotsanangura misika (New York Stock Exchange uye Russian). Sale Hurumende kuchengetedzeka uyewo vachishandisa OTC pamusika.

Market nemamiriro kuchengetedzeka mukati pachayo kana mumwe kwavo kwezvivako inoumbwa zvinotevera zvikamu. Zviri pamutemo dhipatimendi, mashoko, panodonedzerwa, kupishinura uye kugarwa uye kunyoresa. Uyezve, madhipatimendi izvi zvose akasiyana wezwi, kugadzirisa nevakawanda nematambudziko kumusika. Uye kuti, kupfuura zvose, mukuru sangano iri kutengesa kwacho, paumbwe nomutengo kosi, ichipa zvose zvakafanira mashoko ari kuti bidders, chikwereti mamiriro, kuona liquidity, etc.

Market nemamiriro kuchengetedzeka kwayo sezvamunoita anewo mhando dzakasiyana padanda exchanges. Somuenzaniso, ndiko pachena ndiri exchanges, private uye zvakasiyana.

Panyaya iyi, chirongwa sangano wezvokutengeserana upi kunobatsira zvinokosha kwavari, nzira uye nzira inoshandiswa zvaidiwa anosiyana zvishoma. Zvose zvinoenderana ukuru kukura pamusika wemari, nhamba kuchengetedzeka, uyewo nhamba maodha Implementation kwavo kana kutenga, pamusoro kuchinja mutengo masangano. Zvinotevera zvokutengeserana nzira dzinoshandiswa kunyanya. Ichi - nyore okisheni uye miviri. Uyewo, zviri nyore vachiriita dzinogona kurongwa nenzira imwe okisheni mutengesi, mutengi, kana nokuda default. At moyo mutengesi ari kuwedzera mutengo kuchengetedzeka vari kukwikwidzana kwacho. At mwoyo mutengi kunopesana. Pano, vasanyanye mutengo kuchengetedzeka vari kukwikwidzana kwacho. Mune zvokutengeserana okisheni kwakavakirwa tsamba nhema vashomanana yesangano (CB) pamwe anotenderwa mutengo chikumbaridzo, izvo zvichaita kuti kutengeswa chete zvachose yakajeka nguva span. Pashure ake kudzidza, mutengesi ari kufunga mafomu ose zvinowanikwa uye unoda kutengesa kuchengetedzeka panguva mutengo inopiwa mutengi pamusoro chikumbaridzo pamwero, kana zvimwe nahwo.