Vadeli işlem piyasaları ve Rusya uygulaması
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İn today?s economies, one of the most important factors over which the market players concentrate their attention is the ?risk?. The main reason of the rise of the derivative operations market was the elimination of the risk factor as such. That is why, nowadays, the great attention is paid to them. Especially, in the United States these markets became the defining factor in the economy. The main objective of the derivative operations market is as following: to define the price of the economic value unit or of the product with specific characteristics in advance within its certain due period. The determination of the price of the product or of the economic value unit in advance, eliminated the hazardous outcomes of the price risk. This financial technique, which is widely used by the companies, is followed and watched closely by the investors because of being the reason for the speculation. These thesis consists of the three main parts. Whereas, in the part one and two the general characteristics of the market, its operation and the examples of its global application are enlisted.The part three is mainly dealing with the historical development and the current situation of the Russian market of derivative operations (1992-2006). Moreover, it scurpulous analizes the factors that impeded the development of the Russian market of derivative operations.The main reasons that actually impeded the development of these markets in Russia were the economic and political instabilities, legislation based impediments, especially the article 1062 of Civil Law of Russian Federation that evaluates the payment operations as the deals, problems related with taxes and accounting, absence of the common standardized terminology, inadequacy of operations in spot market, not being acquaint of these markets to the people, investment choices and local habits. The close analysis and detailed research of the technological development, support of the investors education, economic and political stability provision was performed.As a conclusion, after the elaborate analysis of the market of derivative operations in Russian Federation that were mentioned above it seems that the development of these markets need tiome in order to play the decisive role in the state economy.