Conceptual approach to determining the nature of the financial market: from the beginning of exchange relations to the modern market segment
The subject of the study is the financial market from the standpoint of understanding its market essence, which predetermines the existence of exchange relations, including sale and purchase agreements. As a scientific approach to identifying starting points of market origin and researching the subsequent process of its development, which led to the formation of a modern financial market, a historical and logical method of cognition was chosen based on the results of interdisciplinary fields of research. The author’s dogma of the immutability of exchange relations in the process of market functioning, regardless of the historical period, forms an idea of the essence of exchange and, as a result, of the very concept of the market. The subsequent segmentation of the market according to the types and forms of exchange flows allowed the author, within the framework of the proposed conceptual approach, to formulate a definition of the financial market that predetermines the future direction of research.