Eng During last 365 days Approved articles: 1989,   Articles in work: 305 Declined articles: 758 
Library
Articles and journals | Tariffs | Payments | Your profile

Back to contents

Defining the Legal Nature of Derivative Financial Instruments
Gavrilov Anatolii

post-graduate student of the Department of Private Law at Ural Institute of Management, Branch of RANERA

620144, Russia, Sverdlovskaya oblast', g. Ekaterinburg, ul. 8 Marta, 66

anatoli.evg@gmail.com

Abstract.

In his article Gavrilov touches upon the definition of the legal nature of derivative financial instruments. Within the framework of this research, the author carries out a complex analysis of the legal nature of derivative financial instruments, in particular, he analyzes the approaches the academic community offers to the matter as well as applicable laws and regulations of Russia on derivative financial instruments and judicial practice. Special attention is paid to the relationship between derivative financial instruments, value documents and wagering contracts. To illustrate the genesis of the legal nature of derivative financial instruments, Gavrilov uses particular examples from the court practice. The methodological basis of the research involves dialectical, formal law, comparative law and structured system analysis. The novelty of the research is caused by the fact that the author makes an attempt to offer his own definition of what derivative financial instrument is and shares his opinion on the derivative financial instrument legislation. He also suggests what areas of the legislation should be improved in the sphere of derivative financial instruments and concludes that value documents and derivative financial instruments are of completely different nature. The author also differentiates between derivative treaties and wagering contracts. 

Keywords: legal nature of derivatives, derivative transaction, futures contract, derivatives market, derivative, derivative financial instrument, value document, wagering contract, aleatory contract, essence of derivative

DOI:

10.7256/2454-0765.2018.1.27627

Article was received:

11-10-2018


Review date:

11-10-2018


Publish date:

13-10-2018


This article written in Russian. You can find full text of article in Russian here .

References
1.
Burenin A.N. Rynok tsennykh bumag i proizvodnykh finansovykh instrumentov: uchebnoe posobie / A.N. Burenin.-M.: 1 Federativnaya Knigotorgovaya Kompaniya, 1998.-352 s.
2.
Rynok tsennykh bumag: uchebnik / pod red. E.F. Zhukova. M.: Volturs Kluver, 2010. 656 s.
3.
Petrenko E.V. Mirovoi rynok derivativov // Molodoi uchenyi.-2011.-10. T.1.-S. 149-152.
4.
Blokhina T.K. Rynok derivativov: mirovye trendy i perspektivy razvitiya // Vestnik Rossiiskogo universiteta druzhby narodov. Seriya: Ekonomika.-2015.- 1.-S. 94-101.
5.
O rynke tsennykh bumag: feder. zakon ot 22 aprelya 1996 g. 39-F3 // Sobr. zakonodatel'stva RF.-1996.- 17.-St. 1918.
6.
Nalogovyi kodeks Rossiiskoi Federatsii chast' vtoraya: feder. zakon ot 05 avgusta 2000 g. 117-FZ //Sobr. zakonodatel'stva RF. 2000.- 32.-St. 3340.
7.
Gizatullina O.M. Proizvodnye finansovye instrumenty: sostoyanie, razvitie i perspektivy: monografiya / O.M. Gizatullina.-Samara: NOANO VPO SIBiU, 2013.-90 s.
8.
Kiselev M.V. Metodologiya funktsionirovaniya i regulirovaniya rossiiskogo rynka derivativov: avtoref. dis. dok. ekon. nauk / M.V. Kiselev.-Saratov, 2009.-40 s.
9.
Abdulkadyrov S.S. Pravovoe regulirovanie dolgovykh i proizvodnykh tsennykh bumag v Rossii: dis. ... kand. yurid. nauk / S.S. Abdulkadyrov.-M., 2012. 193 c.
10.
Grazhdanskii kodeks Rossiiskoi Federatsii chast' pervaya: feder. zakon ot 30 noyabrya 1994 g. 51 FZ // Sobr. zakonodatel'stva RF. 1994. 32. St. 3301
11.
Ivanova E.V. Pravovaya kvalifikatsiya direvativov: dis. kand. yurid. nauk / E.V. Ivanova.-M., 2012.-196 s.
12.
Agarkov M.M. Uchenie o tsennykh bumagakh / M.M. Agarkov.-M.: Finstatinform, 1993.-140 s.
13.
Shevchenko O.M. Pravovoe regulirovanie deyatel'nosti po organizatsii torgovli na rynke tsennykh bumag. Novatsii rossiiskogo zakonodatel'stva i aktual'nye problemy: monografiya / O.M. Shevchenko. M.: Prospekt, 2014.-350 s.
14.
Grekov M.N. Problemy pravovoi kvalifikatsii derivativnogo obyazatel'stva / M.N. Grekov // Aktual'nye problemy rossiiskogo prava. 2014.- 6.-S. 1157 1166.
15.
Postanovlenie Prezidiuma Vysshego Arbitrazhnogo suda Rossiiskoi Federatsii ot 08 iyunya 1999 goda 5347/98 Trebovaniya grazhdan i yuridicheskikh lits, svyazannye s organizatsiei igr ili pari s uchastiem v nikh, ne podlezhat sudebnoi zashchite, za isklyucheniem trebovanii lits, prinyavshikh uchastie v igrakh ili pari pod vliyaniem obmana, nasiliya, ugrozy ili zlonamerennogo soglasheniya ikh predstavitelya s organizatorom igr ili pari // Vestnik VAS RF. 1999. 9.
16.
Opredelenie Konstitutsionnogo Suda Rossiiskoi Federatsii ot 16 dekabrya 2002 g. N 282-O "O prekrashchenii proizvodstva po delu o proverke konstitutsionnosti stat'i 1062 Grazhdanskogo kodeksa Rossiiskoi Federatsii v svyazi s zhaloboi kommercheskogo aktsionernogo banka "Bank Sos'ete Zheneral' Vostok" [Elektronnyi resurs]: Konsul'tant Plyus: spravochnaya pravovaya sistema.
17.
Grazhdanskii kodeks Rossiiskoi Federatsii chast' vtoraya: feder. zakon ot 26 yanvarya 1996 g. 14 FZ // Sobr. zakonodatel'stva RF. 1996.- 5. St. 410.
18.
Reshenie Arbitrazhnogo suda goroda Moskvy ot 21 iyunya 2017 goda po delu A40-3903/17-55-23 [Elektronnyi resurs]: Konsul'tant Plyus: spravochnaya pravovaya sistema.
19.
Postanovlenie Devyatogo arbitrazhnogo apellyatsionnogo suda 09AP-37681/2017-GK ot 30 avgusta 2017 goda [Elektronnyi resurs]: Konsul'tant Plyus: spravochnaya pravovaya sistema.