By object of a research: in a thesis the share market of transitional economy acts. The purpose of a research: scientific development of the optimum mechanism of shaping and improvement of a regulating system of the share market in countries, which pass to market economy. Methods of a research and equipment: During a research investigater leaned on general scientific research receptions(parties): observation, analysis and generalization of statistical datas and actual material, unity of the analysis and synthesis, logic and historical, comparison, groupings, graphic method. Theoretical and practical outcomes: the significance of obtained outcomes is, that the conclusions and recommendations, which are contained in a thesis, can be fixed in a basis of improvement of a regulating system of the share market, and it of a normative regulation, and also are used in educational process in high schools for want of study of rates " State regulation of economy ", " Development of the share market ", development special courses on regulation of the share market in transitional economy. Novelty: the definition(determination) of the essence of concept "securities" is updated by map in it(him) not only money, but also documentary nature of the securities, it evidentnessty irrespective of the form of the issue, and also fixing of unity of two groups of the rights connected to possession by her(it) - of the right on securities and the rights, which follow from possession of the securities. The place of state regulation in a general(common) regulating system of the share market is certain(determined) which consists of a gradual contraction of a spectrum of state interference only before regulation of liquidity and profitnessty of the share market. The prime problems till it to improvement are chosen, among which major will be a rigid regulation of functions of state institutes in investment process, increase of a transparency of the market, non-interference to technological procedures of the share market. Because of genera lisations of domestic experience of use OBJZ are formulated prime measures on improvement of its regulation (mainly, by installation " of a corridor " advantage of datas of valuable papers, extension of a circle of operators of this market; enabling of converting of the indicated papers in corporate valuable papers investly of the attractive enterprises, account by the sums of these bonds on tax payments). Introduction and orb of use: the practical recommendations, which find room(be located) in work, can be used during reduction of practice of state regulation and self-regulation of the share market in the correspondence with the optimum mechanism it of organisation offered in a thesis
