{"id":25515,"date":"2011-04-07T09:33:00","date_gmt":"2011-04-07T09:33:00","guid":{"rendered":""},"modified":"2020-09-25T09:37:28","modified_gmt":"2020-09-25T09:37:28","slug":"sistemul-bursier-3","status":"publish","type":"post","link":"https:\/\/rubyskynews.com\/index.php\/2011\/04\/07\/sistemul-bursier-3\/","title":{"rendered":"SISTEMUL BURSIER"},"content":{"rendered":"
<\/div>
Principiile p. financiare<\/o:p><\/b><\/div>\n
a) princ. separarii activ. bursiere de activ. fin. (SUA)<\/div>\n
b) princ. bancii universale<\/div>\n
c) abordarea mixta<\/div>\n
Rolul princ. al autoritatii de supraveghere a pti.fin. este de a asigura protectia intereselor investitorilor.<\/div>\n
\n<\/div>\n
Metode de realizare<\/o:p><\/b><\/div>\n
– impunerea de norme de informare a publicului (transparenta perfecta)<\/div>\n
– stabilirea normelor pt. activitatea profesionala a soc. fin. si ag. de bursa<\/div>\n
Competentele Comisiei pt. Titluri si Op. Fin. (SEC) din SUA:<\/div>\n
1) Obligatia de inregistrare la autoritatea pietei a ag. fin. care desf. op. cu titluri<\/div>\n
2) Aprobarea emisiunilor titlurilor fin.<\/div>\n
3) Aplicarea si interpretarea legilor in vigoare<\/div>\n
4) Supravegherea si reglementarea curenta a pti.fin.<\/div>\n
\n<\/div>\n
Trasaturi definitorii ale bursei<\/b>:<\/div>\n
– existenta unei piete pt. titluri fin.<\/div>\n
– localizarea tranzactiilor intr-un spatiu special destinat derularii acestora si dotat cu mij. tehnice necesare<\/div>\n
– desfasurarea tranzactiilor pe baze concurentiale si asig. accesului celor interesati la informatia bursiera<\/div>\n
– negocierea, incheierea si executarea contractelor dupa o procedura consacrata<\/div>\n
\n<\/div>\n
D.p.d.v. juridic<\/o:p><\/b><\/div>\n
– bursa ca o institutie publica<\/div>\n
– bursa ca o institutie privata<\/div>\n
\n<\/div>\n
Statutul este actul constitutiv al institutiilor bursei si stabileste<\/o:p><\/b><\/div>\n
1) Prevedere gen. numele, sediul, scopul si statutul legal al bursei)<\/div>\n
2) Membrii bursei ( categ. de membri, drepturile membrilor, obligatiile membrilor, conditii pt. dob\u00e2ndire)<\/div>\n
3) Conditiile exercitarii si functionarii bursei (presedinte, vicepresedinte, directori, seful secretariat bursa)<\/div>\n
4) Managementul bursei (administrator general, consiliul, comitete, organe de control)<\/div>\n
5) Principiile generale ale functionarii bursei (reguli de baza privind contractele)<\/div>\n
6) Activitatea economica a bursei (venituri, cheltuieli, gestiune si control)<\/div>\n
7) Alte prevederi (solutionarea conflictelor, furnizarea de informatii bursiere, vizitarea bursei)<\/div>\n
Regulamentul prezinta in detaliu modul de realizare a activelor bursei, respectiv cerintele si modalitatile de desfasurare a tranzactiilor cu titluri fin.<\/div>\n
\n<\/div>\n
I COTAREA<\/div>\n
1) Reguli privind cotarea la bursa<\/div>\n
2) Informatii necesare pt. admiterea titlurilor la tranzactii la bursa<\/div>\n
3) Cotarea si tranzactiile cu titluri straine<\/div>\n
II MECANISMUL TRANZACTIILOR<\/div>\n
4) Tipuri de tranzactii<\/div>\n
5) Procedura tranzactionala<\/div>\n
6) Formarea preturilor si inscrierea cursului la cota bursei<\/div>\n
7) Activitatea agentilor de bursa<\/div>\n
\n<\/div>\n
D.p.d.v. al accesului la piata<\/o:p><\/b><\/div>\n
– burse inchise<\/div>\n
– burse deschise<\/div>\n
\n<\/div>\n
Conditii generale de admitere la bursa<\/b>:<\/div>\n
– sa primeasca o autorizatie in acest sens de la activitatea pietei<\/div>\n
– sa dispuna de un volum de capital<\/div>\n
– sa contribuie la fondurile bursei in modul si volumul stabilit<\/div>\n
– sa respecte toate obligatiile stabilite prin lege si reglementarile bursei<\/div>\n
\n<\/div>\n
Drepturile membrilor la bursa<\/o:p><\/b><\/div>\n
– dreptul membrului bursei de a fi prezent in incinta si de a efectua operatiunile bursiere<\/div>\n
– dreptul de a participa la elaborarea sau\/si modificarea statutului si regulamentului bursei<\/div>\n
– dreptul de a participa la administrarea institutiilor bursei<\/div>\n
\n<\/div>\n
Managementul bursei<\/o:p><\/b><\/div>\n
a) organe de decizie<\/div>\n
b) organe de executie<\/div>\n
c) organe de consultanta<\/div>\n
d) organe de control<\/div>\n
\n<\/div>\n
A. Organele de decizie<\/b><\/div>\n
Organul suprem de conducere a bursei este format<\/i>, din totalitatea membrilor plini ai institutiei si poarta diferite denumiri: adunare generala (in cazul burselor constituite ca soc. pe actiuni), asociatia bursei (in cazul asociatiilor fara scop lucrativ) s.a.<\/div>\n
\n<\/div>\n
B. Organele de executie<\/b><\/div>\n
– format din agajati cu functii de conducere<\/div>\n
Ex: departament pt. cotatii, departament de supraveghere a pietei, departament de cliring, servicii functionale: administrativ, personal, tehnic, secretariat<\/div>\n
\n<\/div>\n
C. Organele consultative<\/b><\/div>\n
– sau comitete au rolul de a asista cu consultanta de spec.<\/div>\n
Ex: (comitetul de supraveghere, comitetul pt. membri, comitetul de etica bursiera, comitetul pt. operatiuni)<\/div>\n
\n<\/div>\n
D. Organele de control<\/b><\/div>\n
– formate din cenzori sau revizori contabili<\/div>\n
\n<\/div>\n
Functiile bursei<\/o:p><\/b><\/div>\n
– de intermediere – venit din comision<\/div>\n
– de comert cu titluri – venit din diferite v\u00e2nzari-cumparari<\/div>\n
\n<\/div>\n
Firmele de brokeraj<\/b> (SUA)<\/div>\n
1) servicii complete<\/div>\n
a) cercetarea pietei titlurilor<\/div>\n
b) managementul activelor financiare<\/div>\n
c) consultanta in plasamente<\/div>\n
d) executarea ordinelor<\/div>\n
e) reglementarea tranzactiilor<\/div>\n
2) servicii de baza (executarea ordinelor de la clienti)<\/div>\n
Departamentul pentru tranzactii este cel care asigura transmiteresa ordinelor de burs la sala pt. ordine, unde acestea sunt centralizate in vederea trimiterii spre executare pe piata bursiera, respectiv la bursa de valori sau pe piata OTC.<\/div>\n
Departamentul pentru lichidarea tranzactiei urmareste executarea contr. incheiate pe piata bursiera de catre firmele de brokeraj in contul clientilor sau in cont propriu.<\/div>\n
\n<\/div>\n
Tipuri de agenti de bursa<\/b>:<\/div>\n
1. specialisti operativi<\/div>\n
2. specialisti neoperativi (analisti bursieri)<\/div>\n
\n<\/div>\n
Spec. operativi<\/o:p><\/b><\/div>\n
– intermediarii de bursa (brokeri)<\/div>\n
– comerciantii de bursa (dealer sau traderi))<\/div>\n
\n<\/div>\n
Caract. ag. de bursa<\/b>:<\/div>\n
1. pers. fizice cu un anumit statut profesional<\/div>\n
2. pot sa actioneze ca prof. indep., fie ca angajati<\/div>\n
3. pot sa actioneze in afara bursei si in cadrul bursei<\/div>\n
\n<\/div>\n
\n<\/div>\n
\u00cen incinta bursei un ag. poate fi<\/b>:<\/div>\n
a. membru al bursei<\/div>\n
b. sa fie angajat sau reprezentant al unui membru al bursei<\/div>\n
c. sa fie desemnat oficial agent de bursa (functionar public)<\/div>\n
d. sa fie angajat de bursa (ag. oficial) sau acceptat de bursa (liber profesionist)<\/div>\n
La NYSE<\/b>: <\/div>\n
– brokerii de bursa: (b. pe comision, b. independenti)<\/div>\n
– comerciantii de bursa: (c. concurenti, creatorii de piata concurenti, c. pt. orcine non-standard)<\/div>\n
–                                 <\/span><\/span>specialistii<\/div>\n
\n<\/div>\n
\n<\/div>\n
\n<\/div>\n
<\/div>","protected":false},"excerpt":{"rendered":"

Principiile p. financiare a) princ. separarii activ. bursiere de activ. fin. (SUA) b) princ. bancii universale c) abordarea mixta Rolul princ. al autoritatii de supraveghere a pti.fin. este de a asigura protectia intereselor investitorilor. Metode de realizare – impunerea de norme de informare a publicului (transparenta perfecta) – stabilirea normelor pt. activitatea profesionala a soc. […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[1],"tags":[],"aioseo_notices":[],"yoast_head":"\nSISTEMUL BURSIER - Jobs\/ Internships\/ Scholarships\/<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/rubyskynews.com\/index.php\/2011\/04\/07\/sistemul-bursier-3\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"SISTEMUL BURSIER - Jobs\/ Internships\/ Scholarships\/\" \/>\n<meta property=\"og:description\" content=\"Principiile p. financiare a) princ. separarii activ. bursiere de activ. fin. 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