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ISSN (Print) 1996-7845

ISSN (Online) 2542-2081


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National Research University Higher School of Economics
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Ashot Bayadyan , Areg Baghdasaryan

Problems of Development and Integration of the Securities Market in the Countries of the EAEU

2017. Vol. 12. No. 4. P. [issue contents]

The article is devoted to studying problems associated with the development and integration of the securities market in the countries of the Eurasian Economic Union. The article examines the present state, possibilities and problems pertaining to the development of the securities market and, in particular, the regulated market. The development and integration of the securities market is an important factor affecting the potential for economic development and sustainable economic growth in the countries of the Eurasian Economic Union. The subject of this study is the development and integration problems affecting the securities market in the countries of the Eurasian Economic Union.

The securities market in the countries of the Eurasian Economic Union has sufficient integration opportunities. Potential exists in all segments of the securities market, but more opportunities exist in the debt securities market. The deepening of the integration processes in the securities market of the countries of the Eurasian Economic Union could have a positive impact on increasing the investment opportunities of the economies of these countries. This, in turn, can have a positive impact on the growth of the gross domestic product, reducing unemployment and improving the social status of the population. However, the creation of a single or integrated exchange market should be accompanied by the integration of depository processes as well as the settlement and clearing systems, and the synchronizing of the regulatory and legal framework governing the securities market. Particular attention is required to study the problems associated with fixing and transferring property rights to the securities and protecting the interests of investors. The integration processes of depository, settlement and clearing systems may include the introduction of a nominee holder for central depositories and the establishment of correspondent relations between the central depositories of the securities of the countries of the Eurasian Economic Union. For the development of integration processes both in the regulated market and between depository, settlement and clearing systems, the most important prerequisite is synchronization and, in the future, will be the unification of the regulatory and legal framework governing the securities market.

Citation: Bayadyan A., Baghdasaryan A. (2017) Problems of Development and Integration of the Securities Market in the Countries of the EAEU. International Organisations Research Journal, vol. 12, no 4.
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