Напрями нарощування і реалізації інфраструктурного потенціалу фінансового ринку у довгостроковій перспективі

Abstract

The article proves that in forming the strategic trajectory of the financial market development the crucial role belongs to the search for conditions and mechanisms for balancing: 1) own goals and social needs, 2) stability and flexibility of the financial market, 3) existing and necessary infrastructure. Full use of the potential of the financial market in favor of its development can ensure the creation of a constructive environment for the implementation of such a strategy. It was found that the constant transformation in accordance with the challenges of real financial practice characteristics, segmentation, regulation of the financial market lead to changes not only in quantitative but also in the essential characteristics of its infrastructure, lack of coherence of such provision in relation to individual financial market segments. The peculiarities and channels of influence of the existing challenges of modernity on building the infrastructural potential of the financial market in emergent markets are revealed, which are simultaneously identified as opportunities to build and realize such potential due to their connection with financial depth and financial market flexibility. The preconditions and specifics of their formation for the practical transformation of existing challenges into opportunities for the financial market and its infrastructure, in particular for Ukraine, are identified, based on conducting a survey on ways to increase the infrastructure potential of the financial market. On the strategic trajectory of financial market development, the interaction of processes of formation and implementation of infrastructure in each of the segments of the financial market, which often take place in their autonomous and therefore limited space, is detached from the financial market. Achieving such interaction will allow, first, to synthesize the individual qualities of individual segments in the systemic quality of the infrastructural potential of the financial market as a whole. Secondly, on this trajectory, along with static (corresponding to certain operating conditions) priority should be given to the satisfaction of dynamic (adaptive to variable conditions) infrastructure requests to each segment, which will ultimately ensure the implementation of dynamic financial market demands in general, based on its objectives and functional properties. It is emphasized that the current stage of development of the world economy generates new opportunities to increase the infrastructural potential of the financial market, especially its information and functional components, and is a source of new challenges, the response to which will significantly determine the flexibility and depth of Ukraine's financial market. Under this understanding, the defining prerequisite for the reality and effectiveness of the strategic trajectory of financial market development is the coordination of modern challenges and opportunities for financial market development. It has been proven that one of the main challenges, which simultaneously generates new opportunities, is the innovation of financial markets.