Substitute bonds on the Russian securities market

The article presents the results of a study of current trends in the Russian stock market, namely the process of launching trading in replacement bonds on the Moscow Exchange. The relevance of the topic of the article is due to the need to develop and develop new financial instruments that allow domestic investors to diversify risks in the face of limited access to the world's leading financial markets. During the study, an analysis of the structure, volumes and dynamics of trading was carried out, as well as a comparative assessment of the profitability of replacement bonds. The advantages and risks of investing in this type of bonds are considered. Based on the data obtained, a conclusion was made about the prospects for the development of this financial instrument in the context of ongoing sanctions pressure. The authors point out that the successful launch of a new type of bonds indicates the successful adaptation of the Russian securities market, issuers and investors to the new political and economic realities of exchange trading.