sabirJo saqmis safuZvlebi
sabirJo saqmis safuZvlebi sabirJo saqmis safuZvlebi
omelic sabirJo saqonlis yidva-gayidvis Sesaxeb vaWrobis monawileTa urTierTobebs asaxavs. igi sakmaod moculobiTi da mudmivad cvalebadia erovnuli kanonmdeblobisa da bazarze axali savaWro teqnologiebis danergvis Sesabamisad. am TavSi sabirJo vaWrobis wesebis mxolod nawili ganvixileT. sxva sakiTxebi, mag., savaWro garigebaTa ganxorcielebis meqanizmi, sabirJo vaWrobaze fasiani qaRaldebis daSvebis sakiTxebi da sxv. winamdebare literaturis Sesabamis ganyofilebebSia warmodgenili. sabirJo vaWrobis wesebis damrRvevTa mimarT sxvadasxva saxis sasjelia gaTvaliswinebuli (jarima, birJis wevrobidan garicxva da sxv.). 2. sabirJo vaWrobis monawileebi sabirJo vaWrobaSi monawileoben birJis wevrebi da is pirebi, romlebsac kanonmdeblobisa da birJis savaWro wesebis Sesabamisad, amgvari saqmianobis ufleba aqvT. sabirJo vaWrobis monawileTa Semadgenloba birJis saxeobisa (sasaqonlo an safondo) da Sesabamisi kanonmdeblobis mixedviT ganisazRvreba. saqarTvelos kanoniT `sasaqonlo birJebisa da sabirJo vaWrobis Sesaxeb~ (me-15 muxli), sabirJo vaWrobis monawileebad iTvlebian mxolod birJis wevrebi. fizikur da iuridiul pirebs, romlebic ar arian birJis wevrebi, sabirJo vaWrobaSi monawileoba SeuZliaT mxolod birJis wevrebis _ sabirJo Suamavlebis meSveobiT. birJis is wevrebi, romlebic ar arian sabirJo Suamavlebi, sabirJo vaWrobaSi monawileoben: 1. mxolod realuri saqonliT vaWrobisas uSualod TavianTi saxeliTa da xarjiT, sabirJo Suamavlobis uflebis gareSe; 2. xelSekrulebis safuZvelze, romelic dadebuli aqvT im sabrokero kompaniebTan da damoukidebel brokerebTan, romlebic TavianT saqmianobas axorcieleben am birJaze. savaWro operaciebs birJaze asruleben mxolod profesionali monawileebi, romelTac sxvadasxva saxelwodeba aqvT: sabirJo makleri, brokeri, market-meikeri, dileri. isini muSaoben an saSuamavlo gasamrjelosaTvis an Tavisi angariSiT mogebis misaRebad. 79
safondo birJis wevri SeiZleba gaxdes fasiani qaRaldebis bazris nebismieri profesionali monawile. safondo birJis wevrad miRebis wesi da maTi raodenoba birJis wesdebiT ganisazRvreba. sasaqonlo birJisagan gansxvavebiT, safondo birJaze droebiTi wevroba, aseve birJis wevrTa araTanabari mdgomareoba, birJis adgilis ijariT an giraod gadacema dauSvebelia. sabirJo vaWrobaSi monawile Suamavlebis Semadgenloba da raodenoba, aseve TavianT klientebTan maTi urTierTkavSiris sqemebi, SeiZleba gansxvavebuli iyos, romelic metwilad mocemul qveyanaSi sabirJo vaWrobis ganviTarebis doneze da am sferoSi Camoyalibebul tradiciebzea damokidebuli. mag., niu-iorkis safondo birJis savaWro darbazSi moqmedi movaWreebi oTx kategoriad iyofa. esenia: sakomisio brokerebi, romlebic mxolod klientebis davalebiT muSaoben; specialistebi (anu dilerebi), romlebic TavianTi xarjiTa da saxeliT muSaoben. maTTvis sabrokero funqciebis Sesruleba akrZalulia; `ordolariani brokerebi~, romlebic sakomisio brokerebis davalebas maSin asruleben, roca isini SekveTebis Sesrulebas ver aswreben; registrirebuli treiderebi, romlebic igive dilerebia, magram maTgan gansxvavebiT, garkveuli saxeobis aqciebze ageben pasuxs. londonis safondo birJaze vaWrobis monawileebia: sabrokero-dileruli firmebi, romelTa ZiriTadi funqciaa fasiani qaRaldebis yidva-gayidvis Sesaxeb klientTa SekveTebis Sesruleba; market-meikerebi anu birJis wevrebi, romlebsac samuSao dRis ganmavlobaSi garkveuli saxeobis fasiani qaRaldebis kotireba evalebaT. sabirJo vaWrobis damkvirveblebi SeiZleba iyon masmediis warmomadgenlebi da erTjeradi daswrebis msurvelebic. maT sabirJo garigebis dadebis ufleba ara aqvT, magram im brokerze aucilebeli miTiTeba SeuZliaT, romelic maT davalebas asrulebs. sabirJo vaWrobis monawileTa ufleba-valdebulebebi SidasabirJo normatiuli dokumentebiT, upirvelesad, birJis wesdebiTa da sabirJo vaWrobis wesebiT ganisazRvreba. 80
- Page 29 and 30: • bazris efeqturobis iseTi meqani
- Page 31 and 32: • masiuri anu mravali mwarmoeblis
- Page 33 and 34: gayidvis faqtobrivi moculoba unda i
- Page 35 and 36: informacia saqonlis sertifikaciis S
- Page 37 and 38: fasian qaRalds arc nivTobrivi forma
- Page 39 and 40: ogorc ekonomikuri kategoria, fasian
- Page 41 and 42: siani qaRaldebia saqonlis (mag., xo
- Page 43 and 44: safinanso bazarze Seqmnili mdgomare
- Page 45 and 46: obligacia (laT. obligatio _ valdebu
- Page 47 and 48: fasiani qaRaldis cneba pirvelad ger
- Page 49 and 50: valutis kursi masze moTxovna-miwode
- 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: sabirJo informacia. sabirJo vaWroba
- 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 and 102: axlavs kontrgarigebis dadeba garkve
- Page 103 and 104: • sivrcis faqtoris gadalaxva da i
- 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
omelic <strong>sabirJo</strong> saqonlis yidva-gayidvis Sesaxeb vaWrobis<br />
monawileTa urTierTobebs asaxavs. igi sakmaod moculobiTi<br />
da mudmivad cvalebadia erovnuli kanonmdeblobisa da<br />
bazarze axali savaWro teqnologiebis danergvis Sesabamisad.<br />
am TavSi <strong>sabirJo</strong> vaWrobis wesebis mxolod nawili ganvixileT.<br />
sxva sakiTxebi, mag., savaWro garigebaTa ganxorcielebis<br />
meqanizmi, <strong>sabirJo</strong> vaWrobaze fasiani qaRaldebis<br />
daSvebis sakiTxebi da sxv. winamdebare literaturis Sesabamis<br />
ganyofilebebSia warmodgenili.<br />
<strong>sabirJo</strong> vaWrobis wesebis damrRvevTa mimarT sxvadasxva<br />
saxis sasjelia gaTvaliswinebuli (jarima, birJis wevrobidan<br />
garicxva da sxv.).<br />
2. <strong>sabirJo</strong> vaWrobis monawileebi<br />
<strong>sabirJo</strong> vaWrobaSi monawileoben birJis wevrebi da is<br />
pirebi, romlebsac kanonmdeblobisa da birJis savaWro wesebis<br />
Sesabamisad, amgvari saqmianobis ufleba aqvT.<br />
<strong>sabirJo</strong> vaWrobis monawileTa Semadgenloba birJis<br />
saxeobisa (sasaqonlo an safondo) da Sesabamisi kanonmdeblobis<br />
mixedviT ganisazRvreba.<br />
saqarTvelos kanoniT `sasaqonlo birJebisa da <strong>sabirJo</strong><br />
vaWrobis Sesaxeb~ (me-15 muxli), <strong>sabirJo</strong> vaWrobis monawileebad<br />
iTvlebian mxolod birJis wevrebi. fizikur da<br />
iuridiul pirebs, romlebic ar arian birJis wevrebi, <strong>sabirJo</strong><br />
vaWrobaSi monawileoba SeuZliaT mxolod birJis wevrebis _<br />
<strong>sabirJo</strong> Suamavlebis meSveobiT.<br />
birJis is wevrebi, romlebic ar arian <strong>sabirJo</strong> Suamavlebi,<br />
<strong>sabirJo</strong> vaWrobaSi monawileoben:<br />
1. mxolod realuri saqonliT vaWrobisas uSualod TavianTi<br />
saxeliTa da xarjiT, <strong>sabirJo</strong> Suamavlobis uflebis<br />
gareSe;<br />
2. xelSekrulebis safuZvelze, romelic dadebuli aqvT im<br />
sabrokero kompaniebTan da damoukidebel brokerebTan,<br />
romlebic TavianT saqmianobas axorcieleben am birJaze.<br />
savaWro operaciebs birJaze asruleben mxolod profesionali<br />
monawileebi, romelTac sxvadasxva saxelwodeba<br />
aqvT: <strong>sabirJo</strong> makleri, brokeri, market-meikeri, dileri. isini<br />
muSaoben an saSuamavlo gasamrjelosaTvis an Tavisi<br />
angariSiT mogebis misaRebad.<br />
79
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