CONVERGENCE OF STOCK MARKETS' MODELS IN THE GLOBAL ENVIRONMENT

The article describes the convergence of stock markets and the capital flow in a modern global environment and its development on global markets. In particular, it emphasize the development and regulatory of Ukrainian stock market on its way to Europe. Also it is described, what kind of heritage modern stock markets follow on domestic markets when thinking about global stock markets according to Anglo-Saxon or German models. To achieve this goal such problems are solved in the article. First, the criteria for characterizing models of regulation interaction in the stock markets are defined. Secondly, the recognized polar (outermost, opposite) alternatives for each criterion, i.e. the limits of vector choice are set. Thirdly, the positions that are inherent for two basic models of modern stock markets within each vector of choice are determined. Fourth, the trends of change in such positions in process of convergence of base (Anglo-Saxon and Germanic) models of stock markets are determined. Ultimately, this allows proving some regular features of a new global model of stock markets, emerging now in the process of such convergence Germanic and Anglo-Saxon models.