sabirJo saqmis safuZvlebi

mcire kompaniebisaTvis arsebobs alternatiuli bazari,
romelic NASDAQ-is teqnologiuri sistemis analogiuria. singapurSia
kompiuterizebuli arasabirJo saerTaSoriso bazaric
(GLOB International), sadac fasiani qaRaldebi, ZiriTadad, malaiziidan
da honkongidan Sedis.
singapuris safondo bazris umaRlesi saxelmwifo maregulirebeli
organoebia singapuris savaluto sammarTvelo (romelic,
faqtobrivad, qveynis centraluri bankia) da fasiani qa-
Raldebis erovnuli sabWo.
singapuris safondo birJa Ria tipis saaqcio sazogadoebaa.
misi wevrebi sabrokero kompaniebia. birJas safondo birJis komiteti
marTavs. 1
safondo birJebis gareSe bazari
(NASDAQ da SEAQ)
arsebobs fasiani qaRaldebis vaWrobis ori ZiriTadi
struqtura _ auqcionis da dileruli bazrebi. auqcionis bazrebisaTvis
damaxasiaTebelia is, rom investorebs garigebis gaformeba
dilerTa gareSe SeuZliaT da vaWrobas sakuTari xarjebiT
warmarTaven. auqcionis wesebiT dilerebi, realu-rad,
konsultantebis rols asruleben.
meore tipis sabazro struqturis nimuSia dileruli bazrebi.
kerZod, fasiani qaRaldebis dilerebis erovnuli asociaciis
avtomatizebuli kotirebis sistema (NASDAQ – National Association
of Securities Dealers Automatic Quotations) aSS-Si da mis analogiurad
Seqmnili londonis safondo birJis kotirebis avtomatizebuli
sistema (SEAQ – Stock Exchange Quotation System) did britaneTSi.
asociaciaSi 6000-mde wevria. dilerebis danamati daaxloebiT
5%-ia. wevri valdebulia daicvas komerciuli keTilsindisierebis
umaRlesi normebi da samarTliani vaWrobis
aRiarebuli principebi.
dilerTaAasociacia or nawilad iyofa: TviT NASDAQ-is
Cveulebrivi emisiebi da erovnuli sabazro sistema (NMS _ National
Market System). es ukanaskneli am sistemis zeda iarusia da SedarebiT
swrafrealizebad emisiebs moicavs. asociacia fsevdosaxelmwifoebrivi
manerebiT aregulirebs im dilerebis saqmianobas,
romlebic korporaciebis fasiani qaRaldebis arasabir-
Jo bazarze muSaoben.
1 Рот А., Бернард Р. и др. Основы государственного регулирования
финансового рынка. М., 2002, С. 131, 255.
168