Importance The EAEU countries move towards economic integration. Liberalization and harmonization of legislation in the financial sector, as well as development of financial markets is one of the main conditions for building a sound economic union. This article addresses the financial activity of the Republic of Belarus, the Russian Federation and the Republic of Kazakhstan. Objectives The aim of the study is to develop a mechanism of common financial market functioning through implementing the harmonized regulation and economic integration of the EAEU member States. Methods The research employs methods of logical, statistical analysis and synthesis, comparative and historical analysis. Results The analysis of financial markets of the EAEU countries shows that in the Republic of Belarus and the Republic of Kazakhstan this sphere is less developed than in the Russian Federation. Thus, it will be problematic to create a common financial area. To eliminate negative effects in the formation of a common financial area (such as the outflow of capital to more developed countries), it is necessary to harmonize the financial markets of the countries under analysis. Conclusions and Relevance Further integration of financial markets necessitates full harmonization of legislation. It is advisable to create a common financial market in order to ensure a free access to the financial markets of the EAEU member countries. The single financial center should act as a regulator of processes in the EAEU financial markets. It should be a single platform for transactions with securities.
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