Subject The article considers the evolution of the securities market in the history of the Russian State. Objectives The purpose of the study is to assess the specific features of the securities market evolution under the influence of historical events and financial transformations in the Russian State. Methods To analyze stages of the Russian securities market formation, we employ the methods of retrospective and statistical analyses, as well as horizontal and vertical analysis of data. Results We systematized the results of retrospective analysis of the Russian securities market development and summarized them in a chronological map, which includes ten stages. The findings can be helpful for devising future strategic guidelines on Russia's financial market reform and its integration into the global financial system. Conclusions The paper puts emphasis on internal mechanisms for attracting investment that have been developed throughout the Russian securities market history.
Keywords: securities market, bonds, financial market, history of State
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