Current State and Prospects of the Futures Market Development in Ukraine

This paper presents a comprehensive study of the current state and development prospects of the futures market in Ukraine through the analysis of financial instruments, trading platforms, and legislative regulation. The main focus is on evaluating trading volumes, liquidity of futures contracts, market participants' activity, and the integration of the Ukrainian market into the international financial system. The relevance of the topic is driven by the rapid development of financial markets, the growing demand for derivative instruments, and the need for transparent risk management mechanisms in the context of global economic volatility. The authors analyze the current legal and regulatory framework, investigate trading statistics on exchanges, assess key factors influencing market liquidity and attractiveness, and forecast trends in the development of futures instruments in Ukraine. Particular attention is paid to the role of institutional investors, the impact of technological innovations on trading efficiency, and the potential for expanding the range of available derivatives. The results of this study may be useful for investors, financial analysts, regulators, and researchers seeking to understand the dynamics of emerging financial markets. At the same time, directions for further market development are outlined, including the introduction of new contracts, digitization of trading platforms, and integration with international derivatives markets. The study concludes that the current state of the futures market in Ukraine is characterized by gradual infrastructure development, increasing trading volumes, and enhanced market participant activity; however, a number of limitations remain that constrain its effectiveness. The main development factors include the improvement of the regulatory and legal framework, digitization of trading platforms, increased financial literacy among investors, and integration of the Ukrainian market with international financial instruments. Despite positive trends, there are challenges related to insufficient liquidity of certain contracts, limited information transparency, and risks arising from macroeconomic instability and geopolitical factors. Addressing these challenges requires coordinated efforts from market participants, regulatory authorities, and educational institutions to create a more resilient and competitive futures market ecosystem.