Public and private tender
Now the difference between closed and open exchanges. It lies in the fact that in the first case, the transaction may be concluded only between traders and brokers, who represent and advocate on behalf of both Parties exchange, and one-time buyers. In the second case, may enter into contracts and clients exchange, both independently and through intermediaries. At the initial stage, when not yet perfected the mechanism of trading and there are no methods of protecting the interests of buyers and sellers, it is advisable to conduct sealed bidding.
Any Mercantile Exchange has two main areas of activity: wholesale trade on the one hand and the quotation of prices of goods on the other. Dwell on the latter. In all foreign countries, exchange activity, along with banking and monetary system are subject to state regulation. It is no accident. In a market economy in the absence of direct legislative intervention in the entrepreneurial activity is the exchange are tools vennogo indirect but very significant impact on business. Not despite the fact that the stock market is controlled by a small number of products, most of them has a strategic character. In this the prices that the stock market in a free-tsenoob-education reflect market movement of a product, case-zhat kind of indicator of the economy.
Today, among the major commodity exchanges established information links. This contributes to equalization of prices and the formation of a single world market.