Zithini iirisithi zedipozithi, American, European, global, Russian

Zithini iiRisithi zeDipozithi kwaye kutheni zikhutshwa?Xa kuthengiswa amasheya kunye neebhondi kwi-stock exchange, kufuneka ukwazi ukukhetha izibambiso ezithembisayo. Utshintshiselwano ngalunye lunika amathuba athile kulo mba. Nangona kunjalo, ngamanye amaxesha amathuba okuthenga amasheya angaphandle kunye neebhondi zilinganiselwe. Oku kunokubangelwa kukuba abadweliswanga kutshintshiselwano oluthile okanye kukho izithintelo ezisemthethweni ekusebenzeni nabo. Izabelo azibanjwa ngabathengi. Ukuba, umzekelo, umrhwebi wenze utyalo-mali kwii-securities, ke azinikezelwanga kuye. Enyanisweni, kwindawo eqwalaselwayo, imithetho yokugcina ifana naleyo isetyenziswe kwicandelo lebhanki. I-akhawunti inikezelwe kumthengi, apho ezo zabelo kunye neebhondi anelungelo lobunini zigcinwa khona. Iirisithi zedipozithi zikhutshelwa izabelo esele zinezabelo. Oku kunokwenziwa ngumgcini ngokwakhe kunye nangenye ibhanki yokugcina imali ngokoqobo kulo naliphi na ilizwe lehlabathi phantsi kwesivumelwano kunye naye. Ukurhweba ngokuqhelekileyo kuqhutyelwa kuloo mazwe anokusebenza ngokusemthethweni kunye ne-depository ekhuphe iirisithi ezichaphazelekayo. Ngaloo ndlela, izibambiso zale nkampani yaseTshayina, umzekelo, ziya kukwazi ukurhweba kwi-stock exchange yaseRashiya okanye kwamanye amazwe. Ngelo xesha, abanini baya kukwazi ukusebenzisa izabelo ezichaziweyo njengokungathi bazifumene, kwaye kungekhona iirisithi. Ngaloo ndlela, izabelo ngokusesikweni zisahleli kubunini bomgcini, ibhanki yaseTshayina yokugcina imali, kodwa umnini werisithi yediphozithi ehambelanayo ufumana zonke iinzuzo ekusebenziseni kwabo. Ngenxa yoko, inkampani yaseTshayina yafumana umtyalomali omtsha, kwaye umthengi we-securities wakwazi ukutshala imali yakhe ngokunenzuzo.

Umahluko kwizabelo

Iirisithi zedipozithi ziyafana kakhulu nezabelo, kodwa zineempawu zazo ezahlukileyo. Zimi ngolu hlobo lulandelayo:

1. Bazesibini.
2. Banika ithuba umrhwebi okanye umtyali-mali ukuba arhwebe ngezibambiso ezinokuthi zingabikho kuye.
3. Kwinkqubo yomsebenzi, kukho intsebenziswano phakathi kweebhanki zokugcina imali kumazwe ahlukeneyo.

Ukusetyenziswa kweerisithi kunokuba banzi kakhulu kunezabelo. Izabelo okanye iirisithi zedipozithi – yintoni umahluko, irhafu, iikhomishini, utyalo-mali: https://youtu.be/kjeZPKg3e-4

Ngubani okhupha irisithi yedipozithi

Ibhanki egcina izibambiso ezithile izithengisa kwibhanki egcina imali kwelinye ilizwe. Le yokugqibela ikhupha iirisithi zedipozithi kubo, ezithengiswa kwi-stock exchange. Umtyalo-mali uyawafumana, efumana onke amalungelo ayimfuneko kwaye ngokwenene abe ngumnini wezibambiso ezifanelekileyo ezikhutshwe kwelinye ilizwe. Ngaloo ndlela, ngokusebenzisa iirisithi zediphozithi, wandisa amathuba akhe, esebenza kunye nezibambiso ezingayi kufakwa kuluhlu kwi-stock exchange yakhe. Iirisithi zeDipozithi: ukuba ziyintoni na kunye nendlela yokusebenza ngazo, iimpawu zee-ADRs, GDRs, RDRs: https://youtu.be/Ex_m7zrc-_U

Iindidi zeerisithi zedipozithi – ADR EDR GDR RDR

Ukwahlula kwiintlobo kusekelwe ekubeni zeziphi iibhanki ezizikhuphayo kunye nalapho zithengiswa khona. Zininzi iindidi zeerisithi zedipozithi ezisetyenziswayo:

1. I-ADR (i-American Depositary Receipt) – iirisithi ezikhutshwe ngamabhanki aseMerika. Zenzelwe ukusebenza kunye nabo kutshintshiselwano lwaseMelika nakwimarike yemasheya yehlabathi.
2. Ii- EDR zikhutshwa ziibhanki zaseYurophu kwaye zithengiswa kutshintshiselwano lwaseYurophu.
3. I- GDRs ziirisithi zedipozithi zehlabathi ezithengiswa kutshintshiselwano lwesitokhwe kumazwe aliqela.
4. Umthetho weRussian Federation uvumela ukukhutshwa kwee- RDR ezijoliswe kwimarike yaseRashiya, kodwa ukusetyenziswa kwazo akuxhaphakanga.

Ukuze ungene kwimarike ethile yasekhaya, inkampani kufuneka ilandele inkqubo yoqinisekiso. Ngamanye amaxesha akayifumani inengeniso ngokwaneleyo. Nangona kunjalo, xa usebenzisa uxwebhu oluchaphazelekayo, abatyali-mali kunye nabarhwebi beli lizwe baya kukwazi ukufikelela ekusebenzeni kunye nenkampani.

Iinzuzo kunye neengozi zokusebenzisa abatyali-mali

Ukusetyenziswa kweerisithi zediphozithi kufana nendlela izitokhwe kunye neebhondi eziphathwa ngayo. Nangona kunjalo, ukusetyenziswa kwabo kunika amathuba ongezelelweyo kubathathi-nxaxheba kwiintengiselwano. Abakhuphi banokuthatha olu ncedo lulandelayo:

1. Ngokuqhelekileyo, unokunikela ngezabelo zakhe kuphela kutshintshiselwano oluthile. Ukusetyenziswa kweerisithi zedipozithi kwenza ukuba zifumaneke kwabanye, kubandakanywa phesheya.
2. Ngokuphucula ukufikeleleka, kukho amathuba ongezelelweyo ekufuneni abatyali-mali.
3. Ukunyuka kokunikezelwa kwezabelo kunegalelo ekuphuculeni isidima senkampani.

Umtyalo-mali ufumana ithuba lokwandisa uluhlu lwezixhobo anokusebenza ngazo. Oku kuphucula umgangatho wokwahluka kwee-asethi. Ngoncedo lweerisithi ezinjalo, kunokwenzeka ukufumana okanye ukwandisa ukufikelela kwii-securities ezivela kubanikezeli bangaphandle. Xa usebenza nezibambiso ezikhutshwe phesheya, umntu kufuneka abhekane nemingcipheko yemali. Utshintsho lwezinga lotshintshiselwano olungalindelekanga ngamanye amaxesha lunokunciphisa kakhulu inzuzo. Ukusetyenziswa kweerisithi zediphozithi kusombulula iingxaki ezinjalo, ekubeni iindawo zokuhlala kule meko zenziwa ngemali yelizwe. Nangona kunjalo, kufuneka uthathele ingqalelo ubukho bezinto ezingalunganga:

1. Imingcipheko yemali isala xa umnini-sabelo efumana izabelo.
2. Iirisithi ze-Depository zisebenza ngaphantsi kunezitokhwe kunye neebhondi.

Xa ukhetha izinto zexabiso, umtyali-mali kufuneka aqwalasele zombini amandla kunye nobuthathaka bezo risithi .

Apho ukufumana ulwazi malunga iirisithi idipozithi kwi Moscow Exchange

Ukuba isitokhwe kunye nerisithi ye-depository ehambelanayo ithengiswa ngokutshintshiselana ngexesha elifanayo, ngoko kunenzuzo ngakumbi ukurhweba i-asethi yokuqala. Nangona kunjalo, ubukhulu becala inye kuphela indidi eboniswayo. Kule meko, akukho thuba lokukhetha phakathi kwezi ntlobo zokhuseleko. Ukuqonda ukuba yeyiphi i-asethi ethengiswayo kwi-stock exchange, kufuneka ujonge uluhlu lwezixhobo. Isihloko siya kubonisa ukuba imalunga nantoni. Ubukho be “JSC” buthetha ukuba sithetha ngezabelo. Ukuba, umzekelo, i-ADR okanye i-GDR ikhankanywe, ke iirisithi zediphozithi zithengiswa.

Iirisithi zediphozithi zeenkampani zaseRashiya, zehlabathi

ERashiya, umsebenzi kunye neerisithi ze-depository zilawulwa nguMthetho No. 39-FZ “Kwi-Market Securities Market”. Inkcazo yabo inikwe kwi-Art. 2, kunye nemithetho yomsebenzi yenziwe kwi-Art. 27:5-3 yalo mthetho. Uluhlu lweziqinisekiso (kubandakanya iirisithi zedipozithi) ezivunyiweyo ukuba zirhwetywe ukususela nge-22 kaDisemba, 2021 kwi-MOEX: https://www.moex.com/en/listing/securities-list.aspx Umzekelo, iirisithi zedipozithi zomniki wangaphandle kwizabelo (ETLN) kwi-Moscow Exchange kwikhonkco https://www.moex.com/en/issue.aspx?code=ETLN :
Izabelo ezingama-32 kunye neerisithi zedipozithi zeenkampani ezinkulu zamazwe ngamazwe ezithengiswa kwi-Moscou Exchange, kuquka i-Oracle. , Sony, Toyota kunye nabanye:
Iirisithi ze-Depositary kunye nezabelo zamazwe ngamazwe kwi-MOEX

Linini Lokutyalo-mali kwiiRisithi

Enyanisweni, inzuzo enkulu kwiirisithi zediphozithi zikhona kwiimeko apho kunokwenzeka ukuba ufumane ukufikelela ngoncedo lwabo ekutshintshiseni okwakuvalwe ngaphambili kumtyalo-mali okanye umrhwebi. Ngokomzekelo, sinokuthetha ngeenkampani okanye imizi-mveliso kumazwe athile anokuthi abonakale enomtsalane ukusebenza nawo. Olunye uncedo lokusebenzisa iirisithi kukuba ihlelo labo linokwahluka kuleyo yesabelo. Ngaphezu koko, asikwazi ukuthetha kuphela malunga ne-10 okanye i-100 yezabelo, kodwa kunye nezabelo. Le meko yenza ukuba utyalo-mali lufikeleleke ngakumbi kwiimeko apho isabelo sinexabiso elincinane ngokwentelekiso (umzekelo, ukuba lingamawaka aliqela eedola). Imigaqo yokusebenza ngeerisithi iyafana naleyo isetyenziselwa ukurhweba ngezibambiso ezahlukeneyo. Ngokukodwa, kufuneka ukhumbule oku kulandelayo:

1. Xa urhweba okanye utyalo-mali, kukho umngcipheko omkhulu ohambelana nokungaqiniseki kweenguqu zexabiso elizayo. Unokuyinciphisa ngokwenza utyalo-mali kwipotfoliyo. Ngexesha elifanayo, ukuthengwa kweentlobo ezahlukeneyo zezibambiso zenziwa ngokuhambelana nenqanaba elicwangcisiweyo lomngcipheko.
2. Ukuze uvavanye ngokuchanekileyo ukhetho lokuphuhliswa kwemeko yexesha elizayo, kuyimfuneko ukusebenzisa iindlela zohlalutyo olusisiseko kunye nobugcisa. Ngexesha elifanayo, kubalulekile ukufunda iimpawu zophuhliso lwenkampani ekhuphe iirisithi kwaye uqonde indlela uphuhliso lwezoqoqosho lwelizwe layo luhamba ngayo.
3. Ukuba kuyimfuneko, kufuneka ulungelelanise ukubunjwa kwepotfoliyo. Oku kunokuba yimfuneko kwiimeko apho izicatshulwa zeerisithi ezithile zikhula ngendlela engathandekiyo.
4. Kufuneka kukhunjulwe ukuba ukusetyenziswa kweerisithi eziphezulu zemveliso zihlala zihambelana nomngcipheko omkhulu. Ke ngoko, akunakwenzeka ukutyala yonke imali ekhoyo kudidi olunye kuphela. Ukwahlukana kunciphisa imingcipheko kwaye kwandisa amathuba okwenza inzuzo.

Ngamanye amaxesha kunenzuzo ngakumbi ukusebenza kwi-stock exchange kungekhona ngokwakho, kodwa ukudlulisa imali yokulawula ukuthembela. Kule meko, kuya kwenzeka ukuba kusetyenziswe iinkonzo zeengcali ezinokuthi zikwazi ukubonelela ngembuyekezo efanelekileyo kutyalo-mali.

Iirisithi ze-Depository ze-GDRs, ii-ADRs, ii-RDR zeenkampani zaseRashiya i-Tinkoff, i-Mail, i-Yandex, njl. – irhafu, imingcipheko, iimpawu: https://youtu.be/9p2kxTo9A_U

Ukwenza njani ngokusebenza

Kwintengiso yotshintshiselwano olusebenzayo, ukuthengiselana ngokuthengwa kunye nokuthengiswa kweerisithi zediphozithi azifani nenkqubo yazo kwezo zenziwe ngezabelo. Umrhwebi unokukhetha i-asethi efanelekileyo ngohlobo kunye negama lesixhobo kwaye enze isenzo esifunwayo. Abarhwebi abafane bahlule phakathi kwezi ntlobo zimbini zezixhobo. Ukucacisa ukuba ngaba ezi zabelo okanye irisithi yediphozithi, unokujonga ulwazi lwereferensi kwiwebhusayithi yokutshintshiselana.

Irhafu

Irhafu yengeniso yomntu ngamnye inokuhlawulwa kumahluko phakathi kwamaxabiso okuthenga kunye nentengiso yeerisithi. Imfuneko yeentlawulo kunye nokubalwa ngokuchanekileyo kwexabiso lenziwa ngumthengisi. Ngokuqhelekileyo yena ngokwakhe uhoxisa imali efanelekileyo kwi-akhawunti kwaye udweba intlawulo. Ekufumaneni izabelo okanye iintlawulo zekhuphoni, irhafu yengeniso yomntu isoloko ihlawulwa. Kufuneka iboniswe kwisibhengezo “3-NDFL” kwaye idluliselwe kwirhafu ngokuzimeleyo.

Imibuzo neempendulo

Umbuzo: “Yeyiphi ethembeke ngakumbi: izabelo okanye iirisithi zedipozithi?” Impendulo: “Ukuthembeka kwabo kuphantse kufane. Kwimeko yokugqibela, umgcini kunye nebhanki ye-depository ibandakanyeka ekuqhutyweni kweentengiselwano, kodwa phantse zihlala zithembekileyo kwaye zithembekileyo imibutho.
Umbuzo: “Yeyiphi kwezi asethi enenzuzo kakhulu kutyalo-mali kunye nokurhweba?” Impendulo: “Ukusebenza kutshintshiselwano kuhambelana nobukho bemingcipheko ebalulekileyo, eyahlukileyo ngokwendalo. Akukho zixhobo eziqinisekisiweyo zokunika inzuzo, kungakhathaliseki ukuba iimeko. Ukusetyenziswa kweerisithi zediphozithi kwiingozi zabo kufana kakhulu nokusetyenziswa kwezabelo ezihambelanayo.