Pages: 201 - 209
Authors: Solodkaya O. O.
Abstract: Objective: systematization of structure of the functional mechanism of futures contracts in Ukraine through determination and the characteristic of its components. Methods: dialectical and abductive methods, methods of causal and functional-structural analogy, a systematic method, system-structural approach. Results: in article the structure of the functional mechanism of futures in Ukraine, through determination and the characteristic of its components is systematized. Parameters of futures which are traded on organizers of the biddings in Ukraine are determined. Features of technology of the organization and tendering are researched by futures, types of requests of bidders are determined by futures. The system of ensuring accomplishment of liabilities according to futures through such parameters is characterized: cash limit; settlement cash limit; initial margin. Features of centralized clearing and payment under futures in Ukraine, conditions of closing and liquidation of an open line item on futures are determined. Options of actions of the organizer of the biddings in cases of emergence of situations of price instability in the market of futures are considered. Scientific novelty: it is proved, that market development of futures of Ukraine needs determination of an accurate vector, which provides systematization of structure of the functional mechanism of futures, minimization of speculative transactions and shift of emphases on implementation of mechanisms of hedging of economic and financial risks of subjects of managing through optimization of a range of underlying assets of futures. Practical significance: the basic provisions and conclusions of article can be used for enhancement of technology of the organization of the biddings by futures contracts
Keywords: derivatives; futures; hedging; clearing; cash limit; initial margin; variation margin
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