UDK 330.145
Biblid: 1451-3188, 13 (2014)
Vol. 14, No 49-50, str. 196-208

Izvorni naučni rad
Primljeno: 01 Jan 1970
Prihvaćeno: 01 Jan 1970


Vesić Dobrica (Институт за међународну политику и привреду, Београд), dobrica@diplomacy.bg.ac.rs

The capital market is of great importance not only for the development of financial markets, but also for the development of the overall economy. In the capital market trading is done by using the following financial instruments: transferable securities (stocks, bonds, and other forms securitization debt, including depositary receipts), treasury bills, treasury bonds and commercial papers, certificates of deposit and financial derivatives (futures, options, swaps). In the legal and economic theory, there are many classifications of capital markets depending on which criteria is based in classifications. The two primary classifications are as follows: (1) according to the primary and secondary capital markets; (2) according to the criteria of the market; In the European Union there is a special classification of the capital market by strictly defined rules. Serbia is very important development and primary capital market (broadcast property and debt securities) and secondary capital market (stock market trade, regulated OTC trade and free trade off). The market is under the legal supervision of the public capital markets and those that are under the legal supervision of the non-public capital markets.

Ključne reči: capital markets, classification, primary, secondary, legal market, EU, Serbia