{"id":25519,"date":"2011-04-07T09:31:00","date_gmt":"2011-04-07T09:31:00","guid":{"rendered":""},"modified":"2020-09-25T09:37:28","modified_gmt":"2020-09-25T09:37:28","slug":"mecanismul-tranzactiilor-3","status":"publish","type":"post","link":"https:\/\/rubyskynews.com\/index.php\/2011\/04\/07\/mecanismul-tranzactiilor-3\/","title":{"rendered":"MECANISMUL TRANZACTIILOR"},"content":{"rendered":"
<\/div>
a) Initierea tranzactiei<\/b>, prin stabilirea legaturii intre client si soc. de bursa si transmiterea de catre primul a ordinului de vanz.\/cump. Primul pas este deschiderea de catre firma broker a unui cont in favoarea clientului. Al doilea pas este plasarea ordinului de catre client.<\/div>\n
\n<\/div>\n
Tipuri de ordine<\/b>:<\/div>\n
– la piata (la cel mai bun pret)<\/div>\n
– limita (se precizeaza pretul min sau max la care realiz. tranz.)<\/div>\n
– stop (de limitare a pierderii)<\/div>\n
\n<\/div>\n
Instructiuni pt. brokeri<\/o:p><\/b><\/div>\n
-instr. “la zi”<\/div>\n
-instr. “bun pana la anulare”<\/div>\n
-instr. “totul sau nimic”<\/div>\n
-instr. “executa sau anuleaza”<\/div>\n
-instr. “la deschidere”<\/div>\n
-instr. “la inchidere”<\/div>\n
b) Neg. contractului<\/div>\n
\n<\/div>\n
Modalitati de neg<\/b>.<\/div>\n
– neg. pe baza de carnet de ordine<\/div>\n
– neg. prin inscrierea pe tabla<\/div>\n
– neg. prin anuntarea publica a ordinelor<\/div>\n
– neg. in “groapa”<\/div>\n
– neg. pe blocuri de titluri<\/div>\n
– neg. electronica<\/div>\n
\n<\/div>\n
c) Executarea contractului<\/b><\/div>\n
– lichidare directa<\/div>\n
– lichidare centralizata<\/div>\n
\n<\/div>\n
L. directa<\/b>: transmiterea titluri de la soc. de bursa care a vandut la soc. de bursa care a cump si transformarea in sens invers a contravalorii titlurilor pt. fiecare din contr. care au fost incheiate in bursa.<\/div>\n
\n<\/div>\n
L. centralizata (prin cliring)<\/o:p><\/b><\/div>\n
-principiul compensarii obl. de acelasi fel si de sens contrar; vanz. facute in bursa sunt compensate de cump., a.i. participantii la tranzactii le revine obligatia de a regla soldurile astfel rezultate.<\/div>\n
– se face prin casa de depozit (antrepozit central pt. toate titlurile detinute de membrii sai) si prin casa de cliring (efectueaza compensatiile si determina soldurile credit\/debit ale membrilor sai referitor la titlurile si fondurile banesti corespunzatoare)<\/div>\n
Bursa de valori de la New York – pers. principal -“specialistul” lucreaza pe baza de carnet de ordine<\/div>\n
\n<\/div>\n
Functiile specialistului<\/o:p><\/b><\/div>\n
1) de a stabili cotatia de deschidere<\/div>\n
2) ia in calcul toate ordinele de bursa care i-au fost transmise<\/div>\n
3) stabileste piata pe baza cererii si ofertei <\/div>\n
4) devine un reper pt. toti ag. de bursa interesati in titlurile respective<\/div>\n
5) de a mentine un pret corect si ordonat<\/div>\n
Specialistul trebuie sa intervina direct pe piata in calitate de contraparte: vinde din stocurile sale, cand cererea este prea mare si cumpara in contul sau, cand oferta este in exces.<\/div>\n
\n<\/div>\n
Executarea ordinelor<\/o:p><\/b><\/div>\n
1) procedura traditionala prin neg. si contractare de catre ag. de bursa <\/div>\n
2) procedura automatizata prin utilizarea unor  sisteme electronice de transmitere si executare a ordinelor<\/div>\n
\n<\/div>\n
Modernizarea bursei<\/o:p><\/b><\/div>\n
1) Liberalizarea<\/div>\n
2) Electronizarea (reducerea costurilor, cresterea operativitatii)<\/div>\n
a) Marele salt de la Londra<\/div>\n
b) Tranzactiile non-sstop de la NYSE<\/div>\n
Avantajele electronizarii<\/div>\n
– se reduce semnificativ costul tranzactiilor<\/div>\n
– este facilitata neg. neintrerupta<\/div>\n
– se diminueaza riscurile de manipulare<\/div>\n
– permite accesul direct al investitorilor la piata<\/div>\n
3) Internationalizarea<\/div>\n
\n<\/div>\n
\n<\/div>\n
\n<\/div>\n
<\/div>","protected":false},"excerpt":{"rendered":"

a) Initierea tranzactiei, prin stabilirea legaturii intre client si soc. de bursa si transmiterea de catre primul a ordinului de vanz.\/cump. Primul pas este deschiderea de catre firma broker a unui cont in favoarea clientului. Al doilea pas este plasarea ordinului de catre client. Tipuri de ordine: – la piata (la cel mai bun pret) […]<\/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":"\nMECANISMUL TRANZACTIILOR - 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\/mecanismul-tranzactiilor-3\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"MECANISMUL TRANZACTIILOR - Jobs\/ Internships\/ Scholarships\/\" \/>\n<meta property=\"og:description\" content=\"a) Initierea tranzactiei, prin stabilirea legaturii intre client si soc. de bursa si transmiterea de catre primul a ordinului de vanz.\/cump. 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