The functioning of enterprises in Ukraine is very complicated especially in conditions of economic crisis. Such process is based on impetuous structure of financial relations, dynamic globalization and integration processes, unstable economic environment and high level of unforeseen financial risks. Under such circumstances, effective system of prevention risks, that will guarantee the economic security of an enterprise, must be created.
The feasibility of derivatives using in Ukrainian financial market is based on their ability to be effective mechanisms of economic security ensuring at different levels of economic relations.
Insufficient expansion of financial derivatives is associated with a great number of juridical and socio-economic factors.
There are two main categories of the participants at the domestic derivatives market: professional participants and clients of professional participants.
Efficiency of economic security system for professional participants and their clients is mediated by a system of guarantees and risk management of Central counterparty. This system should be flexible, transparent, quickly and accurately record and respond to the results of the derivatives transactions. It also has to ensure integrity of professional participants’ and their members’ funds [1, 2, 3].
The system of guarantees and risk management should be based on the following objectives:
- regulatory compliance;
- preservation of members’ funds;
- Central counterparty warrants to fulfill its duties for positions in the derivatives market in any market conditions;
- minimizing costs of participants in the derivatives market;
- efficiency of clearing and calculation procedures.
Despite pessimistic forecasts, financial derivatives have potent future prospect in Ukraine.
Creation of appropriate conditions for the development and functioning of the domestic derivatives market is an important task at the state level and the level of various experts in the field of economics.
1. Nikiforova, E. D. Securities Market / D. E. Nikiforov. - SPb.: Publishing house of Economics, 2010. - 160 p.
2. Burenin A. N. The derivative markets / A. N. Burenin. - M.: Infra-M, 1996. - 368 p.
3. Safonova T. The derivatives Market / T Safonov. - Rostov-on-don: Phoenix, 2008. - 454 p.