sabirJo saqmis safuZvlebi
sabirJo saqmis safuZvlebi
sabirJo saqmis safuZvlebi
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Seiqmna, romlebic oficialur bazarze daSvebis pirobebs ver<br />
akmayofileben. am bazarze mxolod sakaso garigebebi ideba.<br />
is fasiani qaRaldebi, romlebic ar daiSvebian oficialur<br />
da meorad bazarze, ara<strong>sabirJo</strong> Tavisufali bazris vaWrobis<br />
obieqtia. aqac sakaso garigebebi ideba.<br />
<strong>sabirJo</strong> vaWroba orSabaTidan paraskevis CaTvliT 11 30 sTdan<br />
14 30 sT-mde tardeba. muSaobis pirveli ori saaTis ganmavlobaSi<br />
mimoqcevis obieqtia sajaro da kerZo obligaciebi,<br />
xolo Semdeg _ franguli da ucxouri aqciebi.<br />
mainis frankfurtis safondo birJa<br />
(FSE _ Frankfurt Stock Exchange)<br />
aSS-isa da didi britaneTisagan gansxvavebiT, germaniaSi<br />
centraluri da adgilobrivi birJebis mkafiod dayofa ar<br />
arsebobs. miuxedavad amisa, mainis frankfurtis safondo<br />
birJa, araoficialurad, germaniis safinanso centrad iTvleba.<br />
germaniaSi rva safondo birJa arsebobs, vaWrobis saerTo<br />
moculobis 2/3 ki mainis frankfurtSia Tavmoyrili. mag., bolo<br />
periodSi am birJaze aqciebis brunvaSi sabazro kapitalizaciis<br />
donem orjer gauswro tokiosa da niu-iorkis safondo birJebis<br />
dones 1 da sxv.<br />
arsebobs azri, rom am SemTxvevaSi geografiuli mdebareoba<br />
gadamwyvet rols asrulebs da amitom evropis safinanso<br />
centri, TandaTanobiT, londonidan mainis frankfurtSi<br />
gadainacvlebs.<br />
aseTi Sexedulebis mTavari mizezia is, rom gaerTianebuli<br />
(ekonomikurad integrirebuli) evropa, savaraudod, sabanko-safinanso<br />
centrs evropis kontinentze gadmoitans. aRniSnuls<br />
isic ganapirobebs, rom germaniis ekonomika yvelaze Zlieria<br />
evropaSi da evrokavSiris centraluri bankic swored mainis<br />
frankfurtSi mdebareobs.<br />
tradiciulad, safondo bazari germaniaSi decentralizebulia<br />
da birJebis saqmianoba miwebis (mxareebis) specialuri<br />
organoebiT regulirdeba. miuxedavad amisa, savaluto birJebis<br />
sistemas samTavrobo organoebic mkacrad akontroleben. ker-<br />
Zod, mainis frankfurtis birJis sakurso anu ufros maklers<br />
Tanamdebobaze hesenis (germaniis mxare, miwa) mTavroba niSnavs.<br />
federaluri mTavroba, `birJebis Sesaxeb~ kanonis Tanaxmad<br />
(Tavi 34, §1), eqstremalur situaciaSi (mag., mZime krizisuli vi-<br />
1 Тьюлз Р. и др. Фондовый рынок. М., 1997, C. 270.<br />
160