sabirJo saqmis safuZvlebi
sabirJo saqmis safuZvlebi sabirJo saqmis safuZvlebi
Tavi IX. kliringi da angariSsworeba 1. kliringisa da angariSworebis arsi da funqciebi kliringi (ingl. clearing _ gawmenda) aris moTxovnaTa da valdebulebaTa urTierTCaTvla. sabirJo kliringi sabirJo vaWrobis monawileTa Soris valdebulebaTa iseTi urTierT- CaTvlaa, roca dgindeba, Tu vin, vis da rodis unda gadauxados fuli da miawodos sabirJo aqtivi. angariSsworeba valdebulebaTa Sesrulebis procesia. igi sabirJo kliringiT ganisazRvreba, romlis saboloo produqtia gamyidvelidan myidvelze sabirJo garigebis obieqtis (mag., fasiani qaRaldebis) gadacema, aseve kontraqtis Tanaxmad, myidvelis mier gamyidvelisaTvis fuladi angariSsworeba. martivi sabazro operaciis Semadgeneli nawilebia: myidvelsa da gamyidvels Soris sabirJo garigebis dadeba; angariSsworebis Tanxis gaangariSeba; saqonlisa da fuladi saSualebebis urTierTgadacemiT xelSekrulebis valdebulebaTa Sesruleba. rogorc wesi, Suamavlis gareSe, gamyidveli da myidveli mxolod martivi sabirJo garigebis dros ukavSirdeba erTmaneTs. magram, Tanamedrove safondo da fiuCersul birJebze isini, uSualod, Zalze iSviaTad deben garigebebs, radgan, umetes SemTxvevaSi, erTmaneTisagan drosa da sivrceSi dacilebulebi arian. maTi damakavSirebeli rgolia sabaJo Suamavlebi, romlebic gamyidvelisa da myidvelis rolSi gamodian. am gziT, sabirJo garigebis yvela Semadgeneli nawilis gancalkeveba xdeba. kerZod: xelSekruleba formdeba ara pirvelad gamyidvelsa da saboloo momxmarebels, aramed klientebsa da sabirJo Suamavlebs Soris; mxareTa garigebiT gaTvaliswinebuli yvela angariSsworeba kliringiT xdeba. kliringisa da angariSsworebis dRevandeli sabirJo sistema Semdegma winapirobebma ganapiroba: pirveli, kavSirurTierTobisa da informaciis damuSavebis Tanamedrove teqnologiuri SesaZleblobebis arsebobam, riTac SesaZlebeli gaxda: 101
• sivrcis faqtoris gadalaxva da informaciis gadacemaTa drois Semcireba; • udidesi sabirJo savaWro informaciis operatiuli damuSaveba da monacemTa bazis Seqmna; • fuladi saSualebebis swrafi da uSecdomo gadagzavna. meore, specializebuli organizaciebisa da sabirJo struqturebis (kliringuli anu saangariSsworebo palatebi, fond-depozitarebi da sxv.) Camoyalibeba. mesame, kliringisa da angariSsworebis meqanizmebis mudmivi srulyofa, romelic ganzogadebuli saxiT ase gamoiyureba: dadebul sabirJo garigebaTa registraciis uzrunvelyofa (garigebis Sesaxeb informaciis miReba, gadacema, Semowmeba, dadastureba, registracia da a.S.); registrirebul garigebaTa aRricxva (bazris saxeobis, monawileebis, Sesrulebis vadebisa da a.S.); sabirJo bazris monawileTa valdebulebebisa da ganaRdebis urTierTCaTvla; sabirJo garigebaTa sagarantio uzrunvelyofa; fuladi angariSsworebis organizacia; gaformebuli garigebis mixedviT sabirJo saqonlis miwodebis uzrunvelyofa. 2. kliringisa da angariSsworebis zogadi aRwera kliringisa da angariSsworebis procesi sabirJo garigebis dadebis Semdeg iwyeba da ramdenime etaps moicavs, romelSic monawileoben ara marto birJis wevrebi da maTi klientebi, aramed sxva organizaciebic, kerZod, saangariSsworebo-kliringuli, sabanko, depozituri da a.S. kliringi da angariSsworeba rigi niSnebiT jgufdeba: sabirJo saqonlis saxeobis mixedviT: • fasiani qaRaldebis bazris kliringi; • fiuCersuli kontraqtebis bazris kliringi. centralizaciis donis mixedviT: calkeuli birJis kliringi; birJaTaSorisi erovnuli kliringi; saerTaSoriso kliringi. momsaxure wris mixedviT: kliringuli palatis wevrTaSorisi kliringi; 102
- Page 51 and 52: • monopsonia (erTi myidveli da ga
- Page 53 and 54: vaWrobis organizaciis TvalsazrisiT,
- Page 55 and 56: civilizacias avrcelebs, romelic mow
- Page 57 and 58: XXI s-is dasawyisidan msoflios wamy
- Page 59 and 60: mniSvnelovnad rTuldeba sagareo-ekon
- Page 61 and 62: nawili II. sabirJo saqmis praqtikul
- Page 63 and 64: safondo birJa Tavisi wevrebis im zR
- Page 65 and 66: 2. birJis saqmianobis organizaciul-
- Page 67 and 68: irJis mmarTvel organos maT finansur
- Page 69 and 70: daniSnos da gaaTavisuflos birJis ge
- Page 71 and 72: wesebis da `fasiani qaRaldebis bazr
- Page 73 and 74: saerTaSoriso vaWrobaSi Suamavlebis
- Page 75 and 76: did britaneTis kanonis mixedviT bro
- Page 77 and 78: fasiani qaRaldebis yidva-gayidvis x
- Page 79 and 80: sabirJo informacia. sabirJo vaWroba
- Page 81 and 82: safondo birJis wevri SeiZleba gaxde
- Page 83 and 84: irJaze savaWrod daiSveba `fasiani q
- Page 85 and 86: • emitentis mier birJasTan dadebu
- Page 87 and 88: savaWro garigeba SeiZleba iyos fasi
- Page 89 and 90: ormoSi telefoniT gadacema. klientis
- Page 91 and 92: kerZod, winaswar yidis (garkveuli v
- Page 93 and 94: sabirJo bazarze garigebis gaformebi
- Page 95 and 96: ofcionuri garigebebi, garigebebi re
- Page 97 and 98: gamyidveli myidveli - sabrokero fir
- Page 99 and 100: lurad Wianurdeba. orive variantSi i
- Page 101: axlavs kontrgarigebis dadeba garkve
- Page 105 and 106: sistemuri (operaciuli) riski danaka
- Page 107 and 108: garda amisa, angariSsworebiT-klirin
- Page 109 and 110: Soris SefardebiT wonasworobas adgen
- Page 111 and 112: saqonels ki is myidveli iZens, rome
- Page 113 and 114: okerTa zepiri SeTanxmeba garigebis
- Page 115 and 116: nebismieri qveynis korporacia, safi
- Page 117 and 118: daaxloebam, erTi qveynidan meoreSi
- Page 119 and 120: moTxovnas, makleri valutis kurss am
- Page 121 and 122: aZlevs anu maT SeuZliaT erTmaneTTan
- Page 123 and 124: 3. sabirJo fiuCersuli vaWrobis meqa
- Page 125 and 126: • fiuCersul bazarze yvela aucileb
- Page 127 and 128: ealuri saqonlis myidveli dainterese
- Page 129 and 130: kontraqtis moqmedebis vada da proce
- Page 131 and 132: saqonlisa da sxv.) fasebs Soris dad
- Page 133 and 134: 8. fiuCersuli vaWrobis Taviseburebe
- Page 135 and 136: gayidvis uflebas aZlevs. ofcionis g
- Page 137 and 138: Tavi XIII. sabirJo saqmianobis sama
- Page 139 and 140: 2. samarTlebrivi regulirebis formeb
- Page 141 and 142: irJa ganixileba, rogorc TviTregulir
- Page 143 and 144: dartebiT gansazRvruli Tavdapirveli
- Page 145 and 146: nawili IV. sabirJo enciklopedia mso
- Page 147 and 148: irJaze saqonlis miwodeba wamoZaxili
- Page 149 and 150: dReisaTvis birJis fiuCersuli da rea
- Page 151 and 152: londonis birJa iyo pirveli evropuli
• sivrcis faqtoris gadalaxva da informaciis gadacemaTa<br />
drois Semcireba;<br />
• udidesi <strong>sabirJo</strong> savaWro informaciis operatiuli<br />
damuSaveba da monacemTa bazis Seqmna;<br />
• fuladi saSualebebis swrafi da uSecdomo gadagzavna.<br />
meore, specializebuli organizaciebisa da <strong>sabirJo</strong><br />
struqturebis (kliringuli anu saangariSsworebo palatebi,<br />
fond-depozitarebi da sxv.) Camoyalibeba.<br />
mesame, kliringisa da angariSsworebis meqanizmebis mudmivi<br />
srulyofa, romelic ganzogadebuli saxiT ase gamoiyureba:<br />
dadebul <strong>sabirJo</strong> garigebaTa registraciis uzrunvelyofa<br />
(garigebis Sesaxeb informaciis miReba, gadacema, Semowmeba,<br />
dadastureba, registracia da a.S.);<br />
registrirebul garigebaTa aRricxva (bazris saxeobis,<br />
monawileebis, Sesrulebis vadebisa da a.S.);<br />
<strong>sabirJo</strong> bazris monawileTa valdebulebebisa da<br />
ganaRdebis urTierTCaTvla;<br />
<strong>sabirJo</strong> garigebaTa sagarantio uzrunvelyofa;<br />
fuladi angariSsworebis organizacia;<br />
gaformebuli garigebis mixedviT <strong>sabirJo</strong> saqonlis miwodebis<br />
uzrunvelyofa.<br />
2. kliringisa da angariSsworebis<br />
zogadi aRwera<br />
kliringisa da angariSsworebis procesi <strong>sabirJo</strong> garigebis<br />
dadebis Semdeg iwyeba da ramdenime etaps moicavs, romelSic<br />
monawileoben ara marto birJis wevrebi da maTi klientebi,<br />
aramed sxva organizaciebic, kerZod, saangariSsworebo-kliringuli,<br />
sabanko, depozituri da a.S.<br />
kliringi da angariSsworeba rigi niSnebiT jgufdeba:<br />
<strong>sabirJo</strong> saqonlis saxeobis mixedviT:<br />
• fasiani qaRaldebis bazris kliringi;<br />
• fiuCersuli kontraqtebis bazris kliringi.<br />
centralizaciis donis mixedviT:<br />
calkeuli birJis kliringi;<br />
birJaTaSorisi erovnuli kliringi;<br />
saerTaSoriso kliringi.<br />
momsaxure wris mixedviT:<br />
kliringuli palatis wevrTaSorisi kliringi;<br />
102