Probably each of living of ordinary people, theyeyuschih access to the media, have heard terms such as stocks, bonds, checks. All documents that have different uses (commercial, credit, payment), but united by one concept - a security. In fact, all of these documents is a common feature - a certificate of property rights. The peculiarity of the securities (nIrrespective of the application) is that it has implemented the right to property (real estate finance) may be implemented or transferred only with its direct presentation. Application securities allows rapid redistribution of property rights, which they support. Securities are subject tomarket relations that involve their owners and, in fact, there is a regulator of the market. A feature of the securities market is that entities that own securities do not take part in it by delegating these functions to intermediaries, one of which acts. As you might guess from the title, the depositary is involved in the market, as the guardiansecurities intermediary intermediary entitled to keep the paper to present to their owner, but who are unable to manage them individually. In addition, the depositary functions include keeping records of property rights, settlement of transactions involving securities, payment of dividends. Such a complex structure requires a strong legal framework and of Legislativeatelnogo registration.