Exchange: definition, types and functions - Crib

Exchange: definition, types and functions.
In the regulated market economy is the most important structure of the organized market. By the organized markets are auctions, trades, exchanges. Exchange as a managed market occupies a special place in the infrastructure of a market economy, as a wholesale institution of mediation. However, the market - an indicator of a civilized market relations. The word "exchange» (dc burse - Flanders adverb) means bag, purse. In practice, in different periods under the Exchange understood: a) a large shopping center, and b) period of time, when they were trading, c) directly themselves bidding. Commodity exchange as an organized market dates back to the XVI century. In 1531 was founded the oldest commodity exchange in Antwerp in 1549 - in Lyon. In 1608 organized by the Amsterdam Commodities Exchange, which has become a trendsetter in the commercial world for years to come (here first appeared share transactions and forward transactions). There is some experience exchange activities in pre-revolutionary Russia. The first stock exchange was established in St. Petersburg in 1703, but the heyday of the exchange business has 60 years of XIX century. - Mainly in the grain trade centers. After 1917, the emergence of stock exchanges are pushing conditions of the NEP. At 1926 in the country had 114 commodity exchanges. However, the departure from the market economy and caused a decrease in the number of exchanges to 14, and in February 1930 adopted a law for their elimination. In some countries, the first exchanges organized by private individuals (Britain, America), so that the state does not interfere in their affairs. In other countries (Germany), the State shall establish a stock exchange itself and regulate their activities. On the first commodity exchange in Russia, the state has a limited impact - through legislation. In the NEP period, 67% of its members had exchanges state co-operative enterprises, while 33% hold private lidami. If you get more information, visit our site: BEST ESSAY CHEAP