Transaction costs of the market impact of share trading: digital manoeuvring technologies

Abstract

In the conditions of the new economic reality caused by the consequences of large-scale military aggression, increasing responsibility and trust between society and stock market participants is an essential resource for the development of financial and credit relations in Ukraine. Digitization of economic processes contributes to the development of applied developments and technology transfer, encouraging stock market participants to shape their transaction costs, taking into account the capabilities of the Government BI analytical system, BigData institutes, and derivatives. The article aims to develop the theoretical and applied principles of transaction costs of the market influence of share trading and the regulatory transformation of information provision. It is argued that the policy of economic recovery requires the application of the postulates of the theory of reindustrialization, the Growth Strategy Trilemma, and the integration of the theory of transaction costs with the path dependency theory for their consolidation in conditions of uncertainty. It was established that the industrial sector should contribute to the development of industrial corporations, which are essential for the branches of the national economy, to achieve competitive advantages of manufactured products and to improve the technological structure of exports. It was established that in the conditions of digitalization, public trust must be formed between the government, business, and science to overcome the technical autonomy of developers. The formation of transaction costs of the market influence of share trading is studied from the functional method of revealing the hierarchy, duration, and differentiation of the buying and selling processes. The classification of economic, organizational-management, and technical-technological dimensions of the stock market development is considered. Forecasting of trades in financial instruments at operators of organized capital markets indicates positive trends for 2023. The digitization of business processes facilitates the access of potential investors to mobilize the internal reinvestment potential of corporations. It provides open access to both integrated database platforms, which forecast cash flows and recognize the need for additional issuance of shares. Methodological and applied approaches to developing the market microstructure, integration, and dependence on regulatory transformations are characterized. It was determined that the development of the digital economy contributes to the creation of IT companies and innovative companies of small and medium businesses, which cannot be included in quotation lists of high levels. Therefore, specialized trading platforms, segments, and markets for small companies are promising for investment. It has been established that transaction costs are aimed at establishing communications, developing partner contacts, and concluding agreements. Therefore, developing professional standards of capital market participants by the roadmap for integrating Ukraine into the Single Digital Market of the European Union is a promising prospect. Keywords: stock trading, stock market, market microstructure, regulatory transformations, trading platform, digital technologies, financial and credit institutions, transaction costs, liquidity.