Izinhlobo ezinkulu kwezimakethe zezimali. Izinhlobo kwezimakethe zezimali zomhlaba wonke

Indawo lapho beqaphela imali kanye nobudlelwane kwezomnotho zakhelwe phakathi abathengi kanye nabathengisi lalezi zimpahla, kuba emakethe yezimali, ogama indima luyanda ngaso sonke isikhathi, ngoba indlela leli ukunyakaza khulula capital phakathi kwezakhamizi, amabhizinisi, izimboni kanye izindawo. Izinhlobo ezimakethe zezimali kanye kuyophathwa lesi sihloko.

definition

Ochwepheshe baye kuze kube manje waxoxa isakhiwo kwezimakethe zezimali bese uzama ukwenza esibonisa ngokugcwele le ncazelo mkhuba. Ikakhulukazi eziningi ukungabaza ngokuthi isakhiwo. Izimakethe walulama ngesizathu ukuthengiselana esiphuthumayo, isimiso zesifunda, ngoba ukusetshenziswa amathuluzi athile zezimali, izingxenye nezindaba yenhlangano, ngokuvumelana izinhlobo isebenze nokunye. Izinhlobo kwezimakethe zezimali eRussia kusukela ngo-2010 ziyahlukahluka mayelana zomculo ezazisetshenziswa futhi bahlukene ku izibambiso izimakethe, nemikhiqizo nempesheni umshwalense, ukheshi kanye nemikhiqizo.

Kwezezimali eyinhloko ezimakethe zamasheya ukholelwa umthethosivivinywa, ukwabelana utshalomali, izitifiketi mortgage, ongakhetha umkhiphi sika, amabhondi, amasheya, azimele izibambiso and kumasheya ezindawo zikahulumeni. Esikhathini ingxenye umshwalense ezisebenza nezinye izinhlobo ezimakethe zezimali, lapho kuphela kudingeka inkontileka, ngomshuwalense kanye oVikelwe. Izisetshenziswa ezilethwayo ezisetshenziswa kulezi ezimakethe, kukhona izivumelwano - ikusasa, okukhethwa kukho kanye nezinye ejwayelekile, ngaphezu - ongakhetha, phambili okunye ukusetshenziswa kwekhadi ezihlobene eside. emakethe Imali isebenzisa amathuluzi ezifana ukubolekisa, imali kanye nezinye izibopho ngezikweletu.

AmaFanktjhini ne-Amathemba

idatha okuningiliziwe on the kwaneliswe isidingo nezimali ezinkulu, ukwakheka izintengo lezi imisebenzi anikeza ngolwazi zonke izinhlobo ezimakethe zezimali. Lapha yonke imininingwane kubalulekile, futhi izinga lo msebenzi kuncike ushintsho, ukukhula kanye kwemvelo le ngxenye yomsebenzi womuntu ukuthuthukiswa komnotho womhlaba. A indima enkulu ukudlala kulezi imisebenzi kwembulunga yonke futhi inhlangano yezezimali ezimakethe zomhlaba jikelele. Inqubo ayishe- kakhulu, kodwa, nahlulele ngemiphumela imisebenzi dolobha global, sibangelwa kancane.

Ukwahlukanisa nezinhlobo kwezimakethe zezimali is ngakho ngokuvamile futhi asetshenziswa kabanzi ngolimi yansuku zonke, ukuthi emagama ngokushesha ikhula ngesivinini ofeleba ngokoqobo ziyashaqisa. Umqondo ngokuyinhloko generalized, kodwa ngemva kwaso efihla izincazelo eziningi ezizimele ochwepheshe ubhala lonke uhlelo, isici ngasinye sazo ihlukaniswa ngokweminyaka ezahlukahlukene. In the version zakudala we ngezigaba kanye nezinhlobo kwezimakethe zezimali akugcini nje kokuzwa, kodwa futhi enkonzweni nge njalo wekhaya, njengoba inzuzo yebhizinisi, ngisho ezincane, kudinga ulwazi oluthile.

ngezigaba Jikelele

Okokuqala kubalulekile ukuqonda sokunquma ngezigaba division. Ngamunye subtype wemakethe zezimali has umqondo ayo nezinhlobo kwezimakethe zezimali kuhloswe for umsebenzi ohluke ngokuphelele. Zokuhlola ezibaluleke kakhulu ukwahlukana elandelayo.

1. Amafa nemibandela imithi yabo: isebenze samabanga aphansi noma ezimakethe zezimali.

2. Ngo-degree of inhlangano ukuhlukanisa kahle ehlelekile futhi ehleleke kahle OTC ezimakethe nokulingana.

3. Ukuthengiselana kanye ukuphuthuma ekusetshenzisweni kwazo: indawo ekhethiwe noma izimakethe ikusasa.

4. Izingcingo amafa nezinhlobo zabo: yomshuwalense ingasetshenziswa noma lwemali imakethe, credit emakethe, izibambiso noma amatshe ayigugu.

5. Endaweni ukusabalalisa kwezimakethe zezimali kukhona amazinga ahlukene: omhlaba kanye kazwelonke, esifunda futhi bendawo.

6. Umbandela main sokunquma umqondo nezinhlobo kwezimakethe zezimali, inkathi lapho kukhona amafa. Kungaba capital emakethe eside, noma umane imali.

Zamabanga aphansi naphezulu

emakethe Primary zezimali ikhona imali ukuthi kuthengiswa okokuqala, lokhu lapho kukhona owokuqala amakhasimende abo, okuyinto ebangele ngegama. Yamadivayisi nokuthenga landulelwa noma ukudedela amafa abafanele, noma inkinga. izimakethe zezimali, ubuntu babo kanye nezinhlobo usizo cash flow kanye izibambiso ngendlela efanele futhi kuwusizo kakhulu. wabenza utshalomali (bomshuwalense) abasebenza emakethe okuyinto banesibopho ukubekwa kwalezi zikhungo zezimali.

Bona ukuthenga noma zonke noma ingxenye enkulu ivolumu izibambiso eziye ekhishwe, bese bethengiswa kumakhasimende zangaphandle, futhi-ke, yenza izindaba ezisematheni mayelana reimbursable isisekelo. imali Eyengeziwe (ngesimo izibambiso noma ngenye indlela) kungase kube ukuthengiselana okwalandela letentiwako kakade emakethe yesibili, kungakhathaliseki ukuthi into, okuyinto ingxenye kuthengiselana. Market Primary kukuvumela ayesekhona nokuphuma kwemali imisebenzi yayo. Izinhlobo kwezimakethe zezimali esihlose ukunyakaza eside and qualitative capital. Imakethe yesibili has ngokuphelele zibalulekile ngoba kukhona ukuthi bachazwa izimfanelo ebaluleke kakhulu kwezezimali ezifana zezimali noma ingozi-ethatha. Lezi izinhlobo ezinkulu kwezimakethe zezimali.

Umlando ezimakethe zamasheya

Izibambiso waqala ukujikeleza yayo eminyaka ambalwa adlule. Okuningi ngekhulu nanhlanu libhekene ukudalwa zomphakathi izibambiso izimakethe. Ukumboza kusilela kwezimali, emazweni ahlukahlukene aseqalile ukukhiqiza futhi beka hhayi kuphela kuleli zwe, futhi ngisho nangale kwemingcele izibambiso lalo. Ngakho, ngo-1556 kule makethe lavulwa ngo-Antwerp. Kodwa ngekhulu leshumi nesithupha esase sikhona kakade eziningi ezisebenza isitokwe Ukuhwebelana, kuhlanganise ngamazwe (Club Brugge). exchange imisebenzi inqubo ngcono, ukuhlinzeka ukunakekelwa okukhethekile kubantu abangabazi.

Ngakho kukhona imiqondo emisha: izinga lokushintshisana, umbiko stock market. Nokho, izinhlobo kwezimakethe zezimali zomhlaba wonke ingakamiswa kwakhiwa. Ukushicilelwa uhlu Inani lale exchange izibambiso adayiswa kwakuyisiqalo khona exchange isitokwe njengoba inhlangano ekhethekile ezimele. Esikhathini nesikhombisa exchange ekhulwini ukuhweba isikhungo steel zaseNetherlands, lapho umsebenzi, ngaphezu kwemali yasekhaya, waya izibambiso British.

ekubeni

isinyathelo non-state wafika ngesikhathi esifanayo - ku Amsterdam Stock Exchange, ngesikhathi East India Company wamemezela okubhaliselwe ngokubamba iqhaza inzuzo, kanjalo ezithinta zilwane kanye kumiswa ezimakethe zezimali. Ngosizo lokhu inkampani bamasheya ukuhweba iminyaka engamakhulu amathathu, zithunyelwa futhi ithengiswe cishe zonke izinsiza ukuthi singabakaNkulunkulu India. Amsterdam ahlanganiswe, ngokulandelana, njengoba nomlomo, eqhuba hhayi ukwabelana kuphela ukuhweba imali, kodwa futhi ukuthengiselana phambili olwenziwa kanjalo zakha lokuqala stock market zokucabangela. Ekhulwini nesishiyagalombili England abamba isinyathelo, ngaphezu kuvulwa stock exchange futhi OTC emakethe, wabizwa ngokuthi mgwaqo. London wabathengi wenza amadili e ikhofi izitolo ilungelo phezu kwendawo egandaywe ngamatshe.

Izinhlobo, isakhiwo kwezimakethe zezimali ngalezo zinsuku zazinzima disordered. EFrance, wayewenza ngendlela ehlukile kancane. Ekupheleni kwekhulu weshumi nesishiyagalombili Paris wavula promissory amanothi emakethe, lapho ukuthenga eyenziwa wabathengi olusemthethweni kuphela. Kwaphela isikhathi eside, ngisho amanani kungesobala limenyezelwe, kanye nenqubo ye-trade phezu exchange isitokwe angazanga yomphakathi. Ukuze Exchange wengamela uhulumeni, ukulawula zonke ukunyakaza kwamatayitela. Ngokuhamba kwesikhathi, izimakethe wayesevele yonke indawo, bona besithole yizinhlobonhlobo ukuthi ukuvula njengendlela Ukuhwebelana ezikhethekile zezimali kanye lezimpahla.

Exchange futhi OTC ezimakethe: umehluko

Emazweni athuthukile kakhulu exchange ukuhweba Amathrendi ayefana: okokuqala, akubanga umsebenzi wezandla izibopho umasipala, uhulumeni, izinkampani ujantshi, amasheya babe siyindlala. Nokho, ngekhulu le-nesishiyagalolunye, ifomu okuhlangene isitokwe zaqala ukuvela. Ikhulu lamashumi amabili wanika Ukuhwebelana isitokwe hhayi kuphela ubukhulu, kodwa futhi izinga ukuhweba, njengoba kukhona ubuchwepheshe obusha. Ngo phakathi kwalo kwakune-OTC emakethe ehlelekile, ngesisekelo okwakubekelwa ekhompyutha. Nokho, exchange-adayiswa futhi OTC namanje kakhulu sihluke nomunye, kuhlanganise nemisebenzi yabo emakethe yezimali.

Kuyadingeka ukuba ucabangele umsebenzi ngamunye kwalezi zikhungo kanye azokuqhubela incazelo ukuqhathanisa ukuze kutholakale zonke ezihluke ngazo nezinto ezifana. Exchange emakethe, njengoba kuqhathaniswa OTC, ine hlu lokuhlushwa eliphezulu ukuze kwaneliswe isidingo iyona. Lapha, imithetho eqinile kakhulu ukuhwebelana futhi iqoshwe ngokuphelele yonke imisebenzi, izinga lobungozi ke akuyona okusezingeni eliphezulu kangaka. Ngaphezu kwalokho, bonke Umhlangano kumelwe nakanjani unelayisensi. OTC ayinakho nohlu emakethe yezimali, kukhona ongaphakeme ukunikezela kanzulu ngokufunwa, akukho eqinile imithetho kanye nokubhaliswa ukuthengiselana nge Umhlangano amalayisense ungaceli, futhi ngenxa yalokho izinga lobungozi iphezulu kakhulu. Lawa imvelo, izinhlobo nemisebenzi emakethe yezimali.

izimakethe Split-level, ezikhethekile, kuthemu kanye nasemnyakeni indawo

izimakethe zezimali Esiphuthumayo zinezikhathi a Isandiso ezithile isikhathi phakathi sikhathi sesiphelo sesimiso nasekubulaleni kuthengiselana, imigomo ngokuvamile kungagcini izinsuku ezinhlanu. Kube uvame iphathwa nemikhiqizo - nokulingana kanye lezimpahla ongakhetha futhi ikusasa, okuyizinto phakathi main esuselwe ezezimali amathuluzi. Emakethe endaweni deal kuhilela zibhujiswe ngokushesha ke. Izinhlobo kanye kwezimakethe zihlanganisa okukhethekile kanye elula kakhulu ukuqonda. Kusobala isihloko, yiziphi imisebenzi emakethe ezikhethekile: abathengisa lwemali imakethe lwemali, umshwalense - nomshuwalense, nokunye. Lapha-ke ubuswa kuphela ezimakethe zamasheya: umnotho wezwe is more athuthukile, ayanda Ingxenye izibambiso izimakethe, uma sicabanga umthamo isamba ukuthengiselana.

izimakethe zezimali lokuhweba babe siqu "umugqa" zabo - global, kazwelonke, esifunda futhi bendawo, iye ezishiwo hlu kwezinhlobo. izimakethe National ndawonye ukuhlela izimali ezimakethe zomhlaba. Ngamunye kazwelonke nakanjani uqukethe zonke zesifunda, njengoba okushiwo esigabeni zokuphatha-indawo. Esikhathini lesifunda ihlanganiswe zonke izimakethe zezimali zendawo. Kulula. Ezingeni ubudlelwano emakethe yendawo zanqwabelana inani elikhulu imisebenzi nge izibambiso ngamanye abahwebi, umshwalense kanye nezikhungo yasebhange ngakolunye uhlangothi kanye zimali ukusebenza ngasese, ngakolunye. Lokho kubhekwe cishe yonke kodwa emibili eyinhloko, izinhlobo ezimakethe zezimali.

emakethe Imali kanye capital emakethe

Lona eziphilayo ezibalulekile kakhulu ezimakethe zezimali. Ukuze ukukhathazeka yemali konke kungahlanganiswa ukheshi kanye cashless izinkokhelo, futhi ngaphezu kwalokho, yonke imisebenzi ezisebenzisa kwezezimali zesikhathi esifishane (izinyanga kuze kufinyelele nambili ukuvuthwa isikhathi). Imakethe dolobha phakathi inombolo enkulu zokukhokhelwa kanye nokuhweba imisebenzi ngenhlonipho ngokuqondene nezimpahla kanye amathuluzi eside zezimali, lapho isikhathi esingaphezu konyaka. Lena umehluko oyinhloko phakathi izimakethe capital nemali. inhlokodolobha Real yesimanje kodwa kugcina ukubaluleka kwalo, kodwa ubuswa amashumi eminyaka inhlokodolobha zezimali, okuyinto ngesimo izibambiso and imali. Ngakho-ke, umnotho ahlalisane imikhakha emibili njengoba inhlokodolobha yangempela futhi zezimali musa uhlangane nomunye. Emkhakheni wezezimali kusekelwe ngokuqinile emnothweni kanye nezinkonzo okungokwezimali kwenza oda esifanayo, kanye nomkhakha langempela elisekelwe capital Okuyınqo, ukhiqiza izimpahla ayothengisa amasevisi ze-non-zezimali.

Capital izimakethe kukhona izingxenye ukuthi ukuthengisa izimpahla zezimali, isakhiwo salo ngempela ramified futhi siqukethe esikweletu exchange angaphandle izimakethe, derivatives izimakethe, amasevisi umshwalense kanye izikhundla. By the way, ezimakethe zamasheya kuleli nokuhlanganiswa kwe udumo ziyingxenye emakethe yamasheya. Imakethe dolobha elinesimo okunhlobonhlobo imisebenzi elihambisana izingxenye zalo eziyinhloko. Le nkokhelo lwemali, okunye, amasevisi umshwalense, ukubolekisa yasebhange, izibopho kanye izibambiso ohulumeni nalo lonke ukuthengiselana emakethe yamasheya. Izindlu nezindawo kukhona izindlela ethandwa kakhulu yokutshala izimali, ngoba ngesikhathi esithile kungayiletha inzuzo kakhulu ukuthengisa izibambiso emakethe (stock).

lwemali imakethe International

Ubudlelwano emakethe exchange angaphandle sezisunguliwe phakathi izifundo - yasebhange futhi okungezona yasebhange izikhungo, izinkampani, ngabanye nokunye. Into lwemali ezimakethe zomhlaba jikelele yiliphi izidingo imali, okuyinto kuvetwa ngokheshi kanye izimali zakwamanye amazwe. Ngaphambili, lwemali zokuhweba kuphela izimakethe ezithile exchange, futhi waze waphela baze basungula off-exchange ubuhlobo. Ukuba ukuhweba lwemali zenzeka ngokusebenzisa ezicini eziningana: izinguquko ohlelweni ngamazwe yemali, imigomo zezimali, ukuhweba ukuxegiswa, kusungulwa izidingo ezintsha zobuchwepheshe, emisha kwezomnotho theory kanye nama-practical.

Evamile, lwemali ezimakethe zomhlaba jikelele ihlukaniswe yaba izingxenye ezimbili - lapho ukuthengisa zezimali ngabanye kanye lapho ngabanye amathuluzi emakethe esetshenziswa. Abahlanganyeli futhi ihlukaniswe izigaba eziningana esekelwe umsebenzi.

1. Ukuqala kokusetshenziswa ukudluliswa kwemisebenzi ngamazwe.

2. Ngokushesha ukwenza ngqo capital investment - ukutshalwa esitokisini, izibopho kanye nokunye okufana nalokho.

3. Ilokhu ukusebenza emakethe imali futhi usebenza yesikhathi esifushane ukuthengiselana.

Inzuzo enkulu lwemali imakethe international zezimali walo omkhulu, ne share enkulu yonke imisebenzi eyabangela le OTC emakethe (ingxenye engamaphesenti angaphezu kwangu ayisishiyagalolunye). Amalungu - amabhange ezincane nezinkulu, wabenza, izinkampani utshalomali, izimali ezihlukahlukene, amabhange amakhulu yamazwe ahlukene kanye brokers. Izici esasenza exchange angaphandle ezimakethe zomhlaba jikelele kungenziwa ngokuthi ukukhula ezifundeni ezahlukene izimakethe lwemali futhi amazwe abo, ngokuqhubeka kuthengiselana, omatasatasa kwesigaba eziphuthumayo, ubunye ubuchwepheshe kanye nekwentiwa ncono exchange angaphandle imisebenzi, ukukhula okusheshayo amavolumu futhi umshwalense ingozi.

Yamazwe ngamazwe stock market

Lo msuka wemakethe enhlokodolobha, lapho umsebenzi oyinhloko ihlobene nempikiswano yobukhosi izibambiso and ukuthengwa nokudayiswa imisebenzi lapho bazibandakanya. Kube Kwenziwa i ukuhweba olubanzi ezihlukahlukene stockbroking, okuyinto kuvetwa ezihlukahlukene zezimali zomhlaba. Kumiswa ababhekene nokuthuthukiswa nokuhlanganiswa izinqubo, inhlangano ye-yasebhange nemisebenzi exchange emazweni ahlukene, ukusetshenziswa asebenzayo zezimali zikazwelonke kanye nokusimama ezanele amazinga exchange.

Yamazwe ngamazwe stock market zidinga imingcele qualitative umnotho ukuthi encike ngqo kwi izinga ubuchwepheshe nemikhakha kwezomnotho, kanye nohlaka lomthetho esitebeleni nezinye izimfanelo eziningi. Izinga utshalomali kuzoncika ngempumelelo indlela isimiso semithetho maqondana ezimakethe zezimali kanye amafa futhi imithetho ebalulekile ngawo imisebenzi iqhutshwa ukutholakala Ukuvikelwa isimo amalungelo endawo nempahla kokubili zimali nabaphesheya.