International securities in the system of a modern integrated banking structures

Many international financial markets and international financial institutions represented today in the global economic complex of great diversity of types of actors. This often causes difficulties in the accurate determination of the main activities of such institutions, because there is a need to bring a certain classification of these institutions, operating at numerous venues, including where surgery and international securities, and international bonds. As a criterion, forms the basis of classification, we can consider the degree of integration of the financial resources of institutions in the United business group and the stability of the formed structure.

According to this approach there are three forms of the integrated structures: with a low degree of integration of economic resources in a single system; a medium level of integration; a highly integrated business unit.

Also Need to add a restriction based on the fact, whether involved data structures in the creation of the banking cost or completely form a supply chain that characterizes their commercial focus and eliminates from further analysis a number of traditional associations (unions, guilds, cartels, etc.). Named enterprises do not integrate the economic resources, pursuing common goals of their members. Commercial activity is not their main purpose.

Thus, to nizkolegirovannykh structures should include new forms of integration, web - based, virtual structure and certain types of strategic business alliances; to medium integrated strategic alliances in the form of joint ventures (JVs), as well as the classical form of consolidation of capital, namely: financial-industrial groups, holdings, concerns, transnational and multinational corporations and banks; to highly integrated structures - strategic alliances with mutual capital participation and business units created through mergers and acquisitions.

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Named classification allows us to trace the evolution in the Genesis of the forms of integration of capital. So, sredneetazhnye and highly integrated structures represent the classical form of banking associations, which actively functioned in the nineteenth and twentieth centuries, when international securities are widely distributed. At the same time, a significant spread of the modern stage, low gain integrated forms is the virtual enterprise, network business structures, as well as the most flexible in its possibilities form the integration of companies - strategic alliances. This happens precisely because these same international securities have become quite usual instrument of financial activities throughout the world. These forms of transformations are the main enterprises in the world, and now managers of the largest banking associations growing preference of the latter as a more flexible and reversible forms of integration.

The types of integration have different goals, different duration and have different performance. So, virtual financial network aimed at the most complete implementation of its resources. Included in the group of education is not bound by legal obligations in terms of collaboration, making this type of integrated structure is flexible but unstable. However, the international securities activities of such entities, while restrictions apply. A strategic Alliance has various forms: agreements on joint scientific developments prior to the merger  of banks and companies into a single economic organism with close mutual property ties. A great variety of specific forms Alliance makes this type of integration is preferred. The Alliance provides for the possibility of reversibility of decisions because his company consists of voluntarily and on mutually beneficial terms. However, this structure is the most difficult to control, as it involves the combination of contradictory interests of partners. Merger/takeover is a tin of integration that is not associated with the duration and specific objectives. Main results, expected managers of corporations, taking decisions on merger/acquisition transactions are: the achievement of synergies, cost savings and quick capital gains.

Thus, at the present stage of development of the world economy increasing the role of large financial-industrial groups called types. The largest company, having exhausted the possibilities of organic growth, using mergers and acquisitions, and forming alliances structures of various types to enhance and maintain competitiveness in the global financial market.