, 4 .

3 .

 - //

0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
22%
0%
0%
0%
0%
1%
1%
1%
1%
1%
1%
1%
1%
1%
1%
1%
1%
1%
1%
2%
2%
11%
2%
2%
3%
3%
9%
3%
3%
4% 4% 4% 5%
0.0125296%

United States
China
Japan
Germany
France

Brazil
United Kingdom
Italy
Russian Federation
India
Canada

/2012/

.
//

/2011/

World

71,707,302

World

69,981,921,885,827.90

European
Union

16,584,007

European
Union

17,584,387,657,373.20

US

15,684,750

US

14,991,300,000,000.00

China

8,227,037

China

7,318,499,269,769.41

Japan

5,963,969

Japan

5,867,154,491,918.31

Germany

3,400,579

Germany

3,600,833,333,333.33

France

2,608,699

France

2,773,032,125,000.00

UK

2,440,505

Brazil

2,476,652,189,879.72

Brazil

2,395,968

UK

2,445,408,064,516.13

Italy

2,014,019

Italy

2,193,971,063,086.11

Russia

2,021,960

Russia

1,857,769,676,143.63

10

India

1,824,832

India

1,847,976,748,681.44

Mongolia /129

10,258

Mongolia /131

8,761,426,371.16

 10
2001
12
10

10.3

8
6
4

4.2

2
1.9
0

1.5

1.3

1.3

1.1

0.7

0.7

0.6

 10
2002
12
10

10.6

8
6
4
2
0

.
4
2

1.6

1.5

1.5

1.2

0.8

0.7

0.7

 10
2003
12
10

11.1

8
6
4
2
0

4.3
2.4

1.9

1.8

1.6

1.5

0.9

0.9

0.7

 10
2004
14
12
11.9

10
8
6
4
2
0

.
4.7
2.7

2.2

2.1

1.9

1.7

0.8

 10
2005
14
12

12.6

10
8
6
4
2
0

.
4.6
2.8

2.3

2.3

2.1

1.8

1.2

1.1

0.9

 10
2006
16
14
12

13.4

10
8
6
4
2
0

.
4.4
2.9

2.7

2.5

2.3

1.9

1.3

1.2

1.1

 10
2007
16
14
12

14

10
8
6
4
2
0

.
4.4

3.5

3.3

2.8

2.6

2.1

1.5

1.4

1.4

 10
2008
16
14

14.3

12
10
8
6
4
2
0

.
4.8

4.5

3.6

2.8

2.7

2.3

1.7

1.7

1.6

 10
2009
16
14
12

14

10
8
6
4
2
0

.
5

5
3.3

2.6

2.2

2.1

1.6

1.5

1.4

 10
2010
16
14

14.5

12
10
8
6
4
2
0

5.9

.
5.5
3.3

2.6

2.3

2.1

2.1

1.6

1.6

 10
2011
16
14

15.1

12
10
8
6
4
2
0

7.3

5.9
3.6

2.8

2.5

2.4

2.2

1.9

1.8

 10
2012
18
16
14

15.7

12
10
8
6
4
2
0

8.2

.
6
3.4

2.6

2.4

2.4

1.8

 10
2013
18
16
14

16.2

12
10
8

9
.

6
4
2
0

5.1
3.6

2.7

2.5

2.4

2.2

2.1

 10
2014
18
16

17

14
12
10
8

10
.

6
4
2
0

5.3
3.7

2.8

2.6

2.5

2.4

2.1

2.1

 10
2015
20

18
16

18

14
12
10

11

6
4

2
0

5.4
3.7

2.9

2.8

2.6

2.5

2.3

2.1

 10
2016
20

18

19

16
14
12
10

12.2

6
4

2
0

5.6
3.8

2.9

2.7

2.7

2.5

2.2

 10
2017
25
20

20.1

15
13.5
10
5

.
5.7
3.9

3.2

2.9

2.8

2.7

2.2

 10
2018
25
20
15

21.1

14.9

10
5

.
5.9
4

3.4

3.2

3.1

2.3

 -
215
2003 158-
2004 159-
2005 156-
2006 147-
2007 146-
2008 143-
2009 150-
2010 138-
2011 131-

CIA World
FactBook

#1

- Purchasing Power
Parity:

$14.66 (As of 2010)

-
:

22.1%

- -
:

1.1%

- :

76.8% (As of 2010)

312,222,000 (As of 2011)

9.6% (As of 2010)

#2

- Purchasing Power
Parity:

$10.09 (As of 2010)

-
:

46.9%

- -
:

10.2%

- :

43% (As of 2010)

1,339,724,852 (As of 2011)

4.3% (As of 2010)

#3

- Purchasing Power
Parity:

$4.31 (As of 2010)

-
:

24.9%

- -
:

1.4%

- :

73.8% (As of 2010)

127,960,000 (As of 2011)

5% (As of 2010)

#4

- Purchasing Power
Parity:

$4.06 (As of 2010)

-
:

26.3%

- -
:

18.5%

- :

55.2% (As of 2010)

1,210,193,422 (As of 2011)

10.8% (As of 2010)

#5

- Purchasing Power
Parity:

$2.94 (As of 2010)

-
:

27.8%

- -
:

0.9%

- :

71.3% (As of 2010)

81,799,600 (As of 2011)

7.1% (As of 2010)

#6

- Purchasing Power
Parity:

$2.223 (As of 2010)

-
:

36.8%

- -
:

4%

- :

59.1% (As of 2010)

142,905,208 (As of 2011)

7.6% (As of 2010)

#7

- Purchasing Power
Parity:

$2.173 (As of 2010)

-
:

21.8%

- -
:

0.7%

- :

77.5% (As of 2010)

62,262,000 (As of 2011)

7.8% (As of 2010)

#8

- Purchasing Power
Parity:

$2.172 (As of 2010)

-
:

26.8%

- -
:

5.8%

- :

67.4% (As of 2010)

192,376,496 (As of 2011)

6.7% (As of 2010)

#9

- Purchasing Power
Parity:

$2.145 (As of 2010)

-
:

18.5%

- -
:

2%

- :

79.5% (As of 2010)

65,821,885 (As of 2011)

9.3% (As of 2010)

#10

- Purchasing Power
Parity:

$1.774 (As of 2010)

-
:

25.3%

- -
:

1.9%

- :

72.8% (As of 2010)

60,681,514 (As of 2011)

8.4% (As of 2010)

http://www.nyx.com/en

NYSE
-

(NASDAQ), - (NYSE)
(LSE) .
- (New York Stock
Exchange NYSE) - -
-
11- .
Big Board
.

(2011 12 14.242
.)

153 .
(2008) .

Wall Street

Wall street East River South Street- Broadway

1.1 (0.7 ) -
.

NYSE

-
.
1790- Wall Street
.
.
, 100
.
Wall Street-
-
.

1792 5 17- vv vv v
,

-
24
v -

(Button wood Agreement) v .
200 Wall Street
. 24
1500
-
2000 .

Event
1914

7 31- 11 28
1920 9 16
1929 10 24 - 1938 10
31
1934 10 1
1987 10 19

Wall Street

Length

0.7 mi (1.1 km)

West end
East end

Broadway
South Street

A crowd at Wall and Broad streets after the 1929 crash. The New York
Stock Exchange is on the right. The majority of people are
congregating in Wall Street on the left between the "House of Morgan"
(23 Wall Street) and Federal Hall (26 Wall Street). Black Tuesday

NYSE

2007 NYSE, Euronext - NYSE

Euronext .
.
- 1978
.
2005 12 6- ,
2006 8- NYSE Group
. 2007 4
4- NYSE Group, Euronext- .
1960- NYSE Composite /NYSE: NYA/ 1965
50 . Dow Jones
Industrial Average 30 NYSE Composite
.
2003 NYSE 2002 5,000
.
NYSE Composite, Energy, Financial,
HealthCare, International 100, TMT, US 100, World Leaders, Arca Tech
100 .
2008 12 31- NYSE Euronext 8500
16.7 .
153 .
.

NYSE
-
?

-
.

.


, .

, .
.

.


.

NYSE


?

.
NYSE
2000-
500
,
.

.
. 12

.

NYSE

NYSE Composite Index

1960- NYSE Composite /NYSE: NYA/

1965 50

Dow Jones Industrial Average 30

NYSE Composite
. 2003 NYSE 2002 5,000

NYSE Composite,
Energy, Financial, HealthCare, International 100, TMT, US
100, World Leaders, Arca Tech 100
.
2008 12 31- NYSE Euronext 8500
16.7 .
153
. .

http://www.nyse.com/about/listed/lcddata.h
tml?ticker=NYA&fq=D&ezd=1Y&index=5

NYSE Energy Index

NYSE Energy
NYSE Energy

146

114

32

$1847444.50

\\

$406067.20

$12653.73

$1496.75

$37.15

NYSE Energy Index

NYSE Energy index $10000

NYSE Energy Index

$790.23

0.043%

$27520.55

1.490%

13

$125159.71

6.775%

$43540.83

2.357%

$3754.57

0.203%

$118278.89

6.402%

$127.00

0.007%

$58265.33

3.154%

$15475.12

0.838%

$13101.73

0.709%

$17016.98

0.921%

$310078.17

16.784%

114

$1114335.40

60.318%

146

$1847444.50

100.000%

NYSE Energy Index

$43540.83

2.357%

13

$125159.71

6.775%

$519241.49

28.106%

$32065.35

1.736%

Mid-East\

$13101.73

0.709%

114

$1114335.40

60.318%

146

$1847444.50

100.000%

NYSE Energy Index

NYSE Energy Index

10

Exxon Mobil Corp

21.98%

ConocoPhillips

3.87%

Chevron Corp

8.14%

Royal Dutch Shell

PLC

3.79%

BP PLC

7.91%

ENI SpA

3.15%

Total SA

6.29%

Schlumberg Ltd

2.73%

Royal Dutch Shell

PLC

5.08%

Occidental
Petroleum Corp

2.67%

% 10

65.62%

NYSE Financial Index

NYSE Financial index $10000

NYSE Health Care Index

NYSE Health Care index

$10000

ACI the Financial

Markets
Association

FOReign EXchange market

.

.

70-

.

3,4
.

;
;
;
;
;
;
;
.

http://www.aciforex.org/

ACI the Financial Markets

Association

ACI

.
68 14000


,
.
. 2010
11 , ACI-
.
ACI
,
, ,
, , ,
.

http://www.aciforex.org/

2- 10
. ,
,
.
1955 6 29 , Maurice Plaguet,
Roy Bridge
.
1955-1957: 13 . : , , 11
1957 5 11 , ACI- . ACI:
Association Cambiste Internationale
1960- , ACI 24 , 1970 37,
1980 50 .
1994: , ACI Financial Markets Association
,
, ,
.
The associations objective is to ensure that market professionals are
represented in actions aimed at shaping market developments within the
regulatory environment, also the maintenance of ethics, the liquidity provided
by traders on every market, arbitration and advice offered in case of
professional disagreements, and the delivery of third party certification on a
global scale (dealing certificate, operations certificate, or diploma).

http://www.aciforex.org/

1956: Maurice Plaquet (France)

1962: Roy Bridge (United Kingdom)
1967: Guillermo Pelli (Switzerland)
1971: Jacques de Dumast (France)
1974: Joop Estourgie (Netherlands)
1977: Robert Leclerc (United States of America)
1980: Paolo Levy (Italy)
1983: Geoffrey Munn (United Kingdom)
1986: Hans Trelde (Germany)
1989: Willy Kestens (Belgium)
1992: David Clark (United Kingdom)
1995: Eugene Prim (Luxembourg)
1998: Heering Ligthart (Netherlands)
2004: Godfried De Vidts (Belgium)
2007: Manfred Wiebogen (Austria)
2010: Manfred Wiebogen (Austria)

http://www.aciforex.org/

2011

5 26-28
50 ACI
.

http://www.aciforex.org/

Board of Education

The mission of the Board is to develop educational programs and

examinations, which promote standards of professionalism, competence
and ethics in global financial markets. ACI delivers knowledge and
expertise on developments in financial markets, with the cooperation of
a global network of experts.
In 2010, 1,400 traders were certified in the three following exams: dealing
certificates,
diploma
and
operations
certificates.
The educational program consists of:
a professional qualification provided in order to enhance career
prospects, improve job performance, and set benchmarks within the
industry,
communication with national regulators on the education and training
of markets participants,
guaranteed market standards by working with regulatory bodies.
The Financial Services Authority (FSA, United Kingdom) recognised the
ACI exam and certification program by listing it on its "List of appropriate
Qualifications", published in the new FSA Policy Statement on
Competence & Ethics (December 2010).

http://www.aciforex.org/

Committee for professionalism

The Committee For Professionalism (CFP) was founded by ACI,

after the bankruptcies of the 1970s. Its role is to set standards for
the markets operations within guidelines set out in a Model
Code for the professional activities of ACI members.
It consists of a Chairman and a maximum of ten international
members, coming from the five regions of the world, and
whose objective is to represent the international markets and
world areas.
The Committee also has other responsibilities:
provide arbitration and advice in case of professional
disagreements,
the proposal of policies and guidelines regarding educational
and professional standards, for members of ACI,
the drafting of summary reports relating to current market issues
(e.g. risk and crisis management).

http://www.aciforex.org/

ACI Foreign Exchange

Committee (ACIFXC)

In New York, November 2010, ACI decided to re-introduce a

Foreign Exchange (FX) Committee on a global scale:
because of the substantial representation from practitioners
and the absolute necessity of an intervention in the largest financial
market.
Its role is to represent every single trader, who are members of the
national associations, on the FX market.
This initiative gives advantages:
ACI can interpret trends in the Foreign Exchange Market,
deliver its views to its wide network: 14,000 members in 68 countries,
develop ACI's activity and competence in FX markets,
works with other committees involved in the market,
interaction with traders,
and permits the recognition of the ACIFX as an FX international
committee.

http://www.aciforex.org/

Euribor ACI

In 1999, while the euro was launched, ACI created the Euribor ACI, in cooperation
with the European Banking Federation (EBF).
There are two categories of members:
the executive members: the national associations of ACI, in the Eurozone
the associated members: the national associations that do not participate in the
Euro.
The association has a role in the management of the Euribor and Eonia indices, and
cooperates with the ERC (Expenditure Review Committee), FBE working groups, the
ECB (European Central Bank) ECB Money Market Group, the European Commission
contact group and the ACI working groups (Money Markets and Liquidity, and the
derivatives working groups).
The Euribor ACI is gaining recognition in its field:
thanks to the support of the EBF,
the ECB: appointed ACI members work within its working groups. A STEP (Short Term
European Paper) was requested by the ECB. The final report, including
recommendations of the 14 members, was published in 2004.
The STEP label for short-term papers was subsequently introduced and is considered
to be the first successful initiative supported by the ECB, with more than 400 billion
of STEP short-term securities.
The European Commission: ACI replies to its consultations on derivatives, market
infrastructures, and financial directives.

http://www.aciforex.org/

Working groups

The Money Market and Liquidity Working Group

(MMLWG) was formed in 1999, during the ACI Milan
Congress, and gathers professionals together in order
to consider issues related to these themes. It consists
of 21 European countries' members and the
participation of United Kingdom and Switzerland as
associated members. The MMLWG meets three times
a year, and can also organize extraordinary
conferences if issues need to be immediately
discussed.
The derivatives working group was established in
2001 with 19 of the most important European banks in
derivatives and focuses on interest rates and FX
derivatives.