Formation of stock market trade networks model in modern condition

Abstract

A precondition for countries’ co-existence in the global financial area is a specific architectonics, i. e. a composition of the financial area that makes it possible to study the integrity of a phenomenon, its environment and inner structure. This financial architectonics of the stock market should be based on the infrastructure, or, rather, its segment – the one which is the likeliest to have the said characteristics. As a result, the stock market infrastructure will become a basis for the formation and development of a ramified system of strong but constantly evolving trading networks as superinfrastructures. The variety of stock market models makes it evident that the current views need to be modified. The current regulatory reforms and the development of information and communication technologies have boosted the competition among different types of institutions that specialise in financial instruments trading. The concentration of the stock market’s trade networks increases the interdependence of its participants, but its impact on the volatility is less definite.