MECHANISM OF FINANCIAL MARKET FUNCTIONING UNDER CONDITIONS OF SOCIETY DIGITALIZATION

Under conditions of globalization of economic environment, there is a need to develop a mechanism for financial market functioning with the use of digital technologies. The purpose of the study is to build a model of the mechanism of financial market functioning under conditions of society digitalization. In the course of the research we have applied the complex, systemic and cybernetic approaches; abstract-logical and synergetic methods, as well as the methods of modeling, grouping, analysis, etc. The concept of the mechanism of financial market functioning under society digitalization has been investigated and clarified. In particular, the essence of the concept of "mechanism" has been revealed, the definitions of "financial mechanism" and "digitalization" have been specified. It has been substantiated that the financial mechanism is the system of approaches to legal, institutional, statistical, instrumental, information and technology support of financial system. It is noted that digitalization of financial market is the saturation of financial market with digital systems in matter of electronic, information and communication interconnection, as well as the formation and functioning of financial cyberspace. The model of the mechanism of financial market functioning under conditions of society digitalization has been built. It has been established that the mechanism of financial market functioning under conditions of society digitalization is the system of saturating the financial market with digital means of information and communication interconnection, economic and legal relations, as well as a digital form of ensuring the formation and functioning of effective financial cyberspace to meet the needs of the society. A prospective direction for further research will be to build a paradigm for financial market functioning in the context of society digitalization.