Basic Rules of European Stock Relationships Regulation and Practice of Their Use in Ukraine

Orientation of Ukraine on business by European standards makes relevant the study of principles of constructing the European system of exchange relations with the aim of using the best of its elements to create an effective national model. This article is devoted to generalization of the basic rules of the European model of regulation of the financial services and outlining the challenges, opportunities and practice of these norms in the formation of national models of regulation of commodity derivatives' markets. Analyzed are the functions of basic institutions in the formation of European regulatory model of stock instruments' markets and described are the main provisions of European legislation on the regulation of commodity derivatives exchange market. Determined are key principles and standard-setting tenets of basic European laws, which are able to unify the scope of regulation of financial instruments exchange market. The author believes that the realities of Ukrainian stock market regulation require the development and adoption of the Exchange Code which would contain all the necessary legislative provisions that are intended to regulate all spheres of exchange relations.