THE FINANCIAL MARKET OF UKRAINE: THE CURRENT STATE OF THE MAIN SEGMENTSУ статті розглянуто сучасний стан вітчизняного фінансового ринку через розгляд його організаційної структури та виявлення основних сегментів. Відмічено, що вітчизняний фінансовий ринок має певну особливість, яка пов'язана з тим, що основними діючими суб'єктами, у яких зосереджена левова частка фінансових ресурсів держави є: депозитні (комерційні банки) та недепозитні фінансові посередники (страхові компанії), а такождопоміжні фінансові корпорації (фондові біржі). Відзначено, що основними критеріями щодо поділу фінансового ринку є законодавчий критерій та структуризація фінансового ринку, в основу якої покладено критерій щодо використання певних видів фінансових активів. Автори використали комплексний критерійякий поєднав елементи як законодавчого поділу та поділ за фінансовими активами, розглянувши ті сегменти, які представлені найбільш активними суб'єктами вітчизняного фінансового ринку, а саме: Ключові слова: сучасний стан; фінансовий ринок; сегмент; депозитні; недепозитні фінансові посередники; допоміжні фінансові корпорації.

Abstract. The study of IPO as a source of financial resources meets the current needs of the corporate sector in conditions of disintermediation and securitization trends of the financial market. In developed economies, there is a process of shifting the emphasis in the direction of capital attraction precisely on the stock market segment of the financial market, which has a number of advantages over the banking system that are also connected with the innovation and investment development of the national economy. The formation of the proper basis for the development of IPO market determines the timeliness of the consideration of this issue because it didn't obtain a sufficient spread. The emergence of new instruments is the feature that characterizes the modern stage of the development of the Ukrainian and world economy. Their application is a condition for the further development and use of the potential opportunities for the improvement of economic systems. Enterprises are able to meet current market needs and challenges due to orientation to modern trends and timely reaction to the latest achievements. One of them is the IPO (initial public offering), which is the primary public offering of shares. Participants of the Ukrainian market face a number of obstacles during IPO on the domestic and foreign stock exchanges. It necessitates a comprehensive review of this issue for a further developing of this method of accumulating financial resources. The purpose of this article is to identify the IPO market as a system of interrelated components that form its essence, and on the basis of a generalization of the constraining factors of development -providing recommendations on the perspective lines of improving the IPO market, taking into consideration the peculiarities of the Ukrainian and world stock market. Methodology. Analytical market reviews, materials of periodicals, resources of the Internet are the informational and methodological basis of the investigation. To achieve the goal set, the following general scientific and special methods were used: economic and mathematical methods, structural-logical analysis, analogy, synthesis, comparison and integration, factor analysis. Results. The factors that should be taken into account by the issuer for the success of the IPO procedure are justified. Problematic aspects and directions of their elimination are determined for every concrete stage of the IPO. The model for the domestic companies to enter the IPO market is proposed that has a special significance in the context of increasing the volume of financing innovative activity. Directions for reforming the regulatory and legislative framework are considered. Practical implications. Directions for improving the process of passing through the IPO stages can be applied by issuers, taking into account the peculiarities of the domestic and world stock market. Value/originality. The biggest part of the scientific works is devoted to the theoretical aspects of IPO, clarifying the essence of this process, structuring its...

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