INFORMATIONAL AND DIGITAL COMPONENTS OF FINANCIAL MARKET FUNCTIONING

Анотація

The article is devoted to the study of the theoretical foundations of the functioning of the financial market at the current stage of the development of the world economy. It is substantiated that the key transformations that significantly change economic relations at the global level are informatization and digitalization. These processes are characterized by such concepts as "information economy", "digital economy". It has been established that they characterize complex and ambiguous processes in which the technologies of collecting and processing information, as well as its use for the economic activities of individuals, corporations and the state, play a key role. Informatization and digitalization of the global economy are directly determined by another trend – radical and rapid changes in technology in various spheres of human activity. It is argued that informatization and digitalization fundamentally change the modern financial market's functioning principles. A logical connection between information and the economic and legal nature of financial instruments circulating on the financial market has been proven. Thanks to this, information and knowledge, including in digital form, have become one of the most important types of resources for financial market participants. It has been proven that informatization and digitalization activate capital circulation in the financial market, and its participants receive a number of important advantages. In fact, the modern financial market can be represented as a constantly operating network in which there is a large-scale exchange of information between various economic agents. However, along with this, the information and digital components of the modern financial market lead to the emergence of numerous risks, which forms a new agenda and tasks for state regulatory bodies. These tasks are primarily aimed at solving several key problems: identification of the human role in the conditions of algorithmization of financial instruments trading; insufficient effectiveness of state regulation in the process of spreading financial innovations; opportunities to ensure transparency in the activities of financial market participants.

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