UNLISTED SECURITIES MARKET

UNLISTED SECURITIES MARKET
(USM) (рынок некотируемых ценных бумаг) Рынок, организованный в 1980 г. Лондонской фондовой биржей (London Stock Exchange) для торговли акциями небольших компаний, не отвечающих требованиям включения в котировочный лист главного рынка (main market) (хотя большинство компаний, торгующих своими ценными бумагами на рынке некотируемых ценных бумаг, в конечном счете намерено выйти на главный рынок). Вступление на рынок некотируемых ценных бумаг обходится дешевле, а требования, предъявляемые к компаниям и их ценным бумагам, менее строгие (см.: unlisted securities (некотируемые на основной бирже ценные бумаги) ). В настоящее время на рынке некотируемых ценных бумаг обращаются акции менее 370 компаний, тогда как в котировочный лист главного рынка включено более 7 000 компаний. В период между 1987 г. и 1990 г. при Лондонской фондовой бирже существовал “третий рынок” (third market) некотируемых на главном рынке ценных бумаг; в 1990 г. он слился с рынком некотируемых ценных бумаг. В декабре 1992 г. Лондонская фондовая биржа предложила упразднить рынок некотируемых ценных бумаг к концу 1995 г. и уже с июня 1993 г. не допускать на него новые компании. Сравни: over-the-counter market (внебиржевой рынок ценных бумаг) .


Финансы: Оксфордский толковый словарь. — М.: Весь Мир. . 1998.

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Смотреть что такое "UNLISTED SECURITIES MARKET" в других словарях:

  • Unlisted Securities Market — (USM) A now defunct market introduced in 1980 to provide a second tier market for smaller, less mature companies unlikely to apply for full listing. The USM, although initially successful, found its attractiveness severely impeded by its level of …   Law dictionary

  • Unlisted Securities Market — The Unlisted Securities Market (USM), which ran from 1980 to 1996, was a stock exchange set up by the London Stock Exchange. It served a market for shares of companies too small to qualify for a full listing; or which did not have the full three… …   Wikipedia

  • Unlisted Securities Market — /ʌnˌlɪstɪd sɪ kjυərɪtiz ˌmɑ:kɪt/ noun formerly, the market for buying and selling shares which were not listed on the main Stock Exchange, now replaced by the Alternative Investment Market (AIM). Abbreviation USM …   Dictionary of banking and finance

  • unlisted securities — Securities (usually equities) in companies that are not on an official stock exchange list. They are therefore not required to satisfy the standards set for listing (see listed security). Unlisted securities are usually issued in relatively small …   Accounting dictionary

  • unlisted securities — unquoted securities Securities (usually equity) in companies that are not on an official stock exchange list. They are therefore not required to satisfy the standards set for listing (see listed security). Unlisted securities are usually issued… …   Big dictionary of business and management

  • unlisted — [[t]ʌ̱nlɪ̱stɪd[/t]] 1) ADJ If a person or their telephone number is unlisted, the number is not listed in the telephone book, and the telephone company will refuse to give it to people who ask for it. [mainly AM] (in BRIT, usually use ex… …   English dictionary

  • Unlisted Trading Privileges - UTP — A form of securities regulation that gives exchanges the right to trade a security without meeting the minimum requirements. Unlisted trading privileges authorize trading even though the security is not listed or registered on the exchange. This… …   Investment dictionary

  • unlisted security — A security traded in the over the counter market that is not listed on an organized exchange. Bloomberg Financial Dictionary * * * unlisted security unlisted security ➔ security * * * unlisted security UK US noun [C] ► …   Financial and business terms

  • Alternative Investment Market — AIM A subsidiary market of the London Stock Exchange that became the successor to the Unlisted Securities Market in 1995. It provides an opportunity for smaller companies with growth prospects to raise capital and have their shares traded in a… …   Accounting dictionary

  • Securities Commission — (SC) (Malay: Suruhanjaya Sekuriti ) is a main governing body in Malaysia. The main headquarters is in Bukit Kiara near National Science Centre, Kuala Lumpur.The following is taken from the SC website and gives a brief description of SC s… …   Wikipedia

  • Alternative Investment Market — AIM A market of the London Stock Exchange that opened in June 1995 to replace the Unlisted Securities Market, with the object of allowing small growing companies to raise capital and have their shares traded in a market, without the expense of a… …   Big dictionary of business and management


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