Isula inhlangano - ke ... luhlobo ukusula: definition, imisebenzi kanye nezici womsebenzi

Bambalwa bavisise lokho emjondolo ukusula izinhlangano. Kodwa-ke lokhu akulishintshi iqiniso ezilandelayo: lezi yisikhungo sezinhlangano eziphambili zezezimali ukufeza umsebenzi obalulekile ngeso elibanzi. Ngakho-ke, imisebenzi yabo futhi ziphawuleka ngokukhethekile.

imiqondo Key

Uma sikhuluma ukusula imisebenzi, kufanele kuphawulwe ukuthi ixhunywe ngokuyinhloko kwencazelo izibopho mutual. Empeleni, kuba umncintiswano kwezicelo nokulethwa kwamatayitela futhi ukubalwa kwenziwa kuzo.

Ungase futhi bathi inhlangano evulekile - a zezimali yasebhange-hlobo isakhiwo, okuyinto wenza indima umlamuli abanekhono phakathi abathengi kanye nabathengisi. Lokho, kuthatha phezu inqubo yokuthenga, ekhuluma ngomuntu othile noma inkampani, ngenhloso yokuzuza izibambiso, futhi okuphambene nalokho. Lokhu kucocisana ivumela ukulawula ngokuphelele ekugcwalisekeni nezibopho zombili, okwandisa kakhulu ukuphepha kuthengiselana.

amasevisi Isula abe efanele ngokushesha ngemuva kokuphothulwa kuthengiselana phakathi kwala maqembu womabili kokubili isitokwe nasesikhathini OTC emakethe.

Ngokuphathelene ukudluliselwa inqubo yokuhweba, esisetshenziselwa ukunquma elithi "emisha", kungase kuthathe kusukela emasontweni ambalwa (OTC ezimakethe), amasekhondi ambalwa (stock).

Ngokuvamile ukusula inhlangano - a division of Ukuhwebelana lapho izibambiso adayiswa, okuvumela yokugcina ukuzivocavoca eliphelele lokulawula ukuthengiselana ahlukahlukene.

Izidingo eRussia

Isula imisebenzi ensimini ka WaseRussia esizwakalayo, kodwa inhlangano inikeza ngamasevisi ezifana, kumele bahlangabezane nezindinganiso ezithile futhi ukufeza izidingo ezisemqoka.

Ngakho, imisebenzi yenhlangano ukuhlanzwa ongenza emphakathini kwezomnotho kuphela, owamiswa ngo kutfotjelwa umthetho waseRussia. Ngakho ekuqaleni ivinjiwe kwesokudla sole amandla obhekele, isibonelo, isakhiwo control.

Labo izimfuneko ilungiswe umthetho Federal imisebenzi emkhakheni evulekile esebenza counterparty emaphakathi.

Ngesikhathi esifanayo kukhona ezindaweni eziningana ukuze azigcine ekhuthele kulowo mthetho kungukuthi ukusula izinkampani:

- umshwalense, ukuhweba nezezimboni imisebenzi;

- iqhaza impesheni yangasese kanye mutual funds;

- ukugcina irejista izibambiso abanikazi;

- Ukuphathwa kwezimali ukulingana utshalomali;

- umsebenzi abangela depositary ezikhethekile kwezimali utshalomali.

Kubalulekile nokukhumbula futhi izitatimende zezimali. Its ifomu elihlanganisiwe njengoba inhlangano ukunikeza ukuhlanzwa kanye central counterparty. Ngokuphathelene umbiko wonyaka, bese-ke kuyadingeka ukuba sibonise akhawunti izinyanga ezingu-12.

inkampani yakhe impahla esiletha usizo evulekile kungaba bachithe nganoma iyiphi indlela. Lokhu kusho ukuthi ukuthengwa ukuvikeleka kwamasheya izimali siqu futhi eyamukelekayo.

The kungenzeka ngokuhlanganisa imisebenzi

Kuwufanele wazi ukuthi inhlangano evulekile - isakhiwo ukuthi ngaphezu ibhizinisi layo core ukwenza njengoba umhleli yokudayisa. Kodwa lokhu kungenzeka itholakala kuphela ukusebenza izimo eziningana:

- ukwenqaba ukuhlanganyela kule Depository, nomdayisi kanye nomthengisi imisebenzi ezimakethe zamasheya;

- nokulahlekelwa ilungelo isinyathelo isimo counterparty emaphakathi;

- kuvinjelwe izibambiso ukuphathwa.

Uma inhlangano yakho ihlele sihlanganise ukuhlinzekwa ukusula amasevisi wawo ukuthi umsebenzi njengoba broker, umphathi nomthengisi noma ezimakethe zamasheya, ke kungase kube counterparty emaphakathi.

Futhi lapho eqothula inhlangano lucwaningo yimuphi umsebenzi ngaphezu main, nakanjani udale eyodwa, kodwa amayunithi eziningana kwesakhiwo, futhi umuntu uma kunesidingo. Ngemva kwalokho ukusula kuzokwenziwa kuzo.

imigomo

Noma yimuphi oqhuba emkhakheni evulekile, enqophe Izinjongo embalwa eyinhloko. Babukeka kanje:

- ukunciphisa isikhathi esidingekayo ukuze ixazululwe;

- ukunciphisa ezingeni izindleko ezihambisana amasevisi isiphetho abahlanganyeli RBC;

- esiphezulu nokwehlisa izingozi ohambisana izibalo ngaphakathi imisebenzi evulekile.

Kusobala ukuthi izinhlangano ezinjalo wenze ukuthengiselana lula futhi eziqinile, yilokhu edonsela amaklayenti eziningi.

Kufanele kuqondwe kanje: ukuze kufezeke izinhloso ngenhla idinga ilayisensi Central Bank, onikeza ilungelo ukusevisa kwanoma iyiphi ukuthengiselana lokukhokha kwi RBC ethile. Ezimweni eziningi, lezi zinkampani zibhaliswe njengenhlangano LLC, nakuba nezinye izinhlobo zomthetho.

Kunengqondo ukubalula yokuthi inhlangano evulekile - isakhiwo ukuthi ongasebenza njengoba izibambiso emakethe olulodwa, futhi zimbalwa. Futhi ifomethi imisebenzi akubi kazwelonke kuphela kodwa futhi emhlabeni jikelele.

imphawu letibalulekile

Ngemva umhleli kokudayiswa uphetha isivumelwano ne maphakathi evulekile, inhlangano kulindeleke ukuba umsebenzi othile. Ingqikithi yalo yokugcina zingancishiswa iqoqo izici efanele, okuyiwona evulekile futhi kukhona:

- kuhlolwa khona eceleni kokuqala kwe-akhawunti ukuhweba umhlanganyeli;

- kokuthola izicelo ohlelweni zokuhweba kanye nokubhaliswa kamuva;

- ukwamukela izicelo-izipesheli wathola ezivela kumakhasimende;

- ukubhaliswa kuthengiselana, okuyinto kwaphethwa ngokuthi;

- nokubuyisana ngemva ukwamukelwa of iziphakamiso somyalelo esiphikisayo;

- ukuqinisekisa ukugcwaliseka okugcwele esiqondile izibopho kokubili abathintekayo kule kuthengiselana;

- sokunquma usayizi ohlangothini ukushintshashintsha nokudluliselwa yayo;

- ukwakha isiqinisekiso (ekhethekile) izimali;

- ukunikezwa imali yokugcina phakathi kwezinhlangano amakontraga, okuye elicacisiwe inkontileka.

Ngo ekuqhubeni le misebenzi, inhlangano ukuhlanzwa zingamelela izithakazelo amaqembu amabili ebukhoneni kwemvume yabo ngaphambi. Ngaphezu kwalokho, kusobala kakade kuba yokuthi ngaphandle nokubuyisana ngayinye kuthengiselana waphetha zokugcina ukwehluleka kuzokhulisa kakhulu. Ngenxa yalokho, abatshalizimali ezinkulu uzobhekana eyinkimbinkimbi nakancane. Ngenxa yalesi sizathu, labo imisebenzi ukuthi enze izinhlangano ukusula izibambiso emakethe, olufanele kanye ngisho kudingekile.

Indlela iyinhloko-dolobha ye inhlangano

Inkampani izimisele amkhethile emkhakheni evulekile, Yiqiniso, ukwenza inzuzo. Futhi ibhizinisi commercial ezifana edonsa nekomkhulu lalo esebenzisa imithombo elandelayo imali:

- ukubhaliswa kanye kokulandela zokukhokhelwa;

- ukuphathwa cash aphethwe inhlangano ngokwayo;

- ukudayiswa kolwazi;

- imali etholakale ngokudayiswa ubuchwepheshe yokubala esetshenziswa inkampani kanye software kanye.

Kuyinto kungalungile uqaphele ukuthi ukusula izinhlangano ibekwe ezindaweni ezibalulekile e ngidayisa izibambiso esuselwe. Sikhuluma ongakhetha isitokwe futhi ikusasa izinkontileka. It kufanele licaciswe futhi isikhathi ukuthi izimakethe ezahlukene reconciliations izinhlelo kuyodingeka ngomehluko obonakala. Leli qiniso alichaza imiqulu ezahlukene ukuthengiselana, izindleko ukusebenza futhi isakhiwo semakethe ethize.

izinhlobo inetha

Imisebenzi zihlanganisa izinhlangano ukuhlanzwa enifeza ukuthengiselana lapho offset isetshenziswa, futhi izinhlobo ezimbili: kubasekeli futhi zamazwe amabili.

Esimweni sokuqala zombili ukubala izibopho noma izidingo zabo singakapheli isikhathi esibalulwe. Ukuze sithole isikhundla (ibhalansi) kulotshwe umehluko phakathi kwezibopho abahlanganyeli kanye nezimfuno zabo. Lolu hlobo okwenziwayo ezivamile. Kulokhu, uma ibhalansi akuyona zero, isimo ubhekwa ovulekile futhi uvaliwe isimo okuphambene.

Encwadini inetha zamazwe amabili kuyinto ukubala pairwise okufunwayo mutual ngokusebenzisa izibambiso noma imali. Njengoba zithenga kukalutshwana kakhulu ukuthola ngesikhathi esifanayo offset ku wokwabelana zezimali, leli fomu lisetshenziswa njalo.

Isimo e-Russia

Uma sibheka exchange isitokwe ezisebenza endaweni CIS, kuyoba kuqashelwe ukuthi iningi lazo ngokuzimela yenza imisebenzi ethile ukuze sisuse izinhlangano. Ngesikhathi esifanayo in the West, isimo akuhambisani okuphambene.

Kuyaphawuleka ukuthi eRussia zisebenzisa amasevisi kwezisekeli zokulalelwayo zamaqembu esithathu abolekise izikhungo, kodwa kuphela izinkokhelo zemali ephethwe ekupheleni ukuhlanzwa, futhi inani izikhundla net. Exchange kungenzeka le ngxenye yomsebenzi ukwenza bebodwa, kepha ngingenalo leli thuba elihle kangaka ngenxa ububanzi elinganiselwe ukukhreditha izikhungo umthetho waseRussia.

Ngenxa yalokho, i-ezivulekile Russian ukuqedela amasevisi Exchange ukuhlanzwa kuthiwa babedinga kuphela elawulwa noma inxusa izinhlangano NGO.

Noma kunjalo ukusula inhlangano - itholakala ifomu Russian womsebenzi, okuyinto kubhekwa esisemthethweni kungaphansi kwelayisensi. Lesi sakamuva Imiphumela Central Bank.

Imiphumela

Ngokolwazi ngenhla, ungenza Isiphetho esisobala: umsebenzi emkhakheni evulekile lubalulekile futhi uzohlala njalo nje izibambiso izimakethe, kanye exchange angaphandle ukuthenga waphetha.