Pryanishnikova M.V.Saratov Socio-Economic Institute, Branch of Plekhanov Russian University of Economics, Saratov, Russian Federation marprya@mail.ru
Subject The study considers the organized securities market as an integral part of the primary and secondary capital market. Special focus is on the organized OTC market of the Russian Federation and its role in the Russian stock market development. Objectives The study’s objectives are to show the importance of the organized securities market in accumulation and distribution of capital in the financial market depending on the model of capital that exists in the country, to prove its main functions and analyze its development. Methods The study rests on the empirical method, logical construction method, analysis and synthesis. Results The findings demonstrate the importance of the organized securities market in the process of accumulation and redistribution of capital financial resources and its role in the market regulation; the contribution of the organized securities market to concentration and centralization of capital and to real control over distribution of financial capital in the economy. I emphasize the leading role of self-regulating organizations in the development of established OTC securities markets on specific cases. Conclusions The findings enable to make an unbiased assessment of current major processes in the organized securities market and high-quality projections of the main areas of its further development in countries with different capital models.
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