Subject The research focuses on economic relations arising from deals with derivatives on international and national stock exchanges. Objectives The research represents a comparative analysis of various financial derivative instruments used worldwide. We trace new trends in their development and discern where and how they will be used in the Russian regions. Methods We apply the dialectical method of research into economic phenomena, scientific abstraction, analysis, synthesis, grouping and comparison, visual analysis of financials. Results We articulated why it is more preferable to conclude OTC derivative contracts as opposed to those traded on stock exchanges. The article also challenges the financial derivatives market in Russia and what it should await in the future, mentioning its actors' needs at the current phase of its development. Conclusions and Relevance There should be a specialized national platform for derivatives trade. It will expand their use for international payments and mitigate economic risks of national parties to foreign economic trade. We systematized how various business segments may use them in Russia, thus determining probable risks and opportunities. This amplifies scholarly views of the system for international settlements and deals with these instruments, unveils its substance and shows how it can be improved. The findings and conclusions can be applied by experts in international finance, researchers, attendants of professional advancement courses, students and postgraduates in higher schools of economics. This material may also prove useful to traders handling investment processes in financial markets.
Ключевые слова: international accounts, OTC, international accounts, exchange-traded derivative, derivative contract, derivatives trading
Список литературы:
Darushin I. [Theoretical framework for the derivatives market functioning and its social and economic role]. Rynok tsennykh bumag = Securities Market, 2003, no. 4, pp. 68–73. (In Russ.)
Williams B. Novye izmereniya v birzhevoi torgovle [New Trading Dimensions: How to Profit from Chaos in Stocks, Bonds, and Commodities]. Moscow, Analitika Publ., 2001, 266 p.
Masood O., Bashir F., Sahi A.L. Sovereign Credit Rating Changes and Its Impact on Financial Markets of Europe during Debt Crisis Period (Greece, Ireland). Journal of Business & Financial Affairs, 2017, vol. 6, iss. 4. URL: Link
Rubtsov N.N. [Credit derivatives as a factor of systemic risk]. Vestnik Moskovskogo universiteta. Seriya 6: Ekonomika = Moscow University Economics Bulletin, 2014, no. 5, pp. 27–42. URL: Link (In Russ.)
Jarrett J.E. Financial Markets and Financial Planning. Journal of Business & Financial Affairs, 2016, vol. 5, iss. 4. URL: Link
Kochieva A.K., Zaporozhskaya A.G. [Current trends in the development of the Russian investment market in the context of international cooperation]. Ekonomika: teoriya i praktika = Economics: Theory and Practice, 2013, no. 4, pp. 31–36. (In Russ.)
Kozyr' N.S., Getmanova A.V. [Prospects of development of the market of derivatives in Russia]. Sovremennye tekhnologii upravleniya = Modern Management Technology, 2016, no. 6, pp. 30–44. URL: Link (In Russ.)
Svetlov A.A. [Credit derivatives as an instrument of securitisation risk management]. Bankovskie uslugi = Banking Services, 2014, no. 5, pp. 13–18. (In Russ.)
Dmitrieva M.A. [Russian market of derivatives and opportunities for hedging currency and percentage risks on it]. Sibirskaya finansovaya shkola = Siberian Financial School, 2016, no. 2, pp. 74–78. URL: Link (In Russ.)
Litvinova S. [Credit derivatives: Their utilization in Russia]. Problemy teorii i praktiki upravleniya = Theoretical and Practical Aspects of Management, 2014, no. 6, pp. 87–91. (In Russ.)
Hull J.K. Optsiony, f'yuchersy i drugie proizvodnye finansovye instrumenty [Options, Futures and Other Derivatives]. Moscow, Vil'yams Publ., 2018, 1072 p.
Petrov D.V. [Credit derivatives as a product of financial engineering]. Ekonomika i predprinimatel'stvo = Journal of Economy and Entrepreneurship, 2012, no. 2, pp. 117–119.