FINANCIAL MARKET PARTICIPANTS: A CLASSIFICATION BY ROLE AND RESPONSIBILITY

Khotamkulova Madina

GREEN ECONOMY AND DEVELOPMENT, 2026, vol. 4, issue 3

Abstract: The financial market is one of the most complex and interconnected systems in the modern global economy.At the core of its functioning lies a diverse ecosystem of participants, each performing a distinct role that collectivelysupports price discovery, capital allocation, risk transfer, and liquidity provision. This article presents a systematicclassification of financial market participants into six primary groups: (1) retail investors, (2) institutional investors, (3)financial intermediaries, (4) regulatory and governmental bodies, (5) market infrastructure providers, and (6) non-financialcorporate participants. For each group, the study examines their defining characteristics, primary functions, behavioralmotivations, and systemic significance.

Keywords: financial markets; market participants; institutional investors; financial intermediaries; market microstructure; regulatory framework; capital markets (search for similar items in EconPapers)
Date: 2026
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Persistent link: https://EconPapers.repec.org/RePEc:teu:ged000:v:4:y:2026:i:3:id:9562

DOI: 10.5281/zenodo.19052501

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