Українська академія банківської справи Національного банку України
Abstract
The stock market in our country is very young comparing to the majority
markets in the world. However, we created something that needs to be further
developed. The securities market of Ukraine consists of an organized trading
system PFTS. It is Ukrainian abbreviation and it means “перша фондова торгова
система”, (The First Fund Trading System). There are also 4 other securities
exchanges: the Ukrainian Stock Exchange, The Donetsk Stock Exchange, the
Ukrainian Interbank Stock Exchange, the Kiev International Stock Exchange. In
reality trading activity is concentrated mostly in PFTS. PFTS has been acting as an
organizer of securities trading since 1997. It consists of “Quote-driven” and “Orderdriven”
markets. Quote-driven market is used for the secondary trade of stocks.
Order-driven market is used for selling government securities and liquid stocks
