Bodnar Olena, PhD (Economics), Associate Professor of the Department of Finance, Banking and Insurance, Mykolayiv National Agrarian University, Mykolayiv, Ukraine

ORCID: 0000-0002-0152-4290
e-mail: bodnaroa@mnau.edu.ua

Slobodian Tetiana, higher education student, Accounting and Finance Faculty, Mykolaiv National Agrarian University, Mykolaiv, Ukraine

ORCID: 0009-0008-6413-8734
e-mail: tanyaslobodian1051@gmail.com

Rahulina Anastasia, higher education student, Accounting and Finance Faculty, Mykolaiv National Agrarian University, Mykolaiv, Ukraine

ORCID: 0009-0001-8328-8614
e-mail: nastya.ragulina.2004@gmail.com

The Impact of Fintech Technologies on the Development of Stock Exchange Activities in Ukraine and the World

Abstract. Introduction. The study examines the impact of fintech technologies on the transformation of stock exchange activities in Ukraine and worldwide amid the global digitalisation of financial markets. The analysis focuses on the growing role of technological innovations in reshaping market infrastructure and regulatory frameworks.

Purpose. The purpose of the research is to determine how fintech solutions – including blockchain, distributed ledger technologies, asset tokenisation, algorithmic and high-frequency trading, artificial intelligence, and RegTech/SupTech instruments – redefine trading, clearing, settlement processes, and investor participation. The study aims to identify global trends, country-specific challenges, and opportunities for Ukraine’s capital market modernisation.

Results. The research establishes that fintech technologies significantly increase the efficiency of exchange operations by accelerating transaction processing, enhancing transparency, and reducing operational and transactional costs. International practices demonstrate consistent progress in integrating DLT-based solutions into clearing and settlement mechanisms, while tokenisation pilots provide evidence of improved market liquidity and faster execution cycles. At the same time, the study reveals that the rapid adoption of fintech innovations generates new risks: legal uncertainty regarding digital assets, incompatibility of legacy infrastructures with innovative platforms, cybersecurity threats, operational vulnerabilities within automated systems, and heightened susceptibility to market manipulation under algorithmic trading. For Ukraine, the findings highlight the need for infrastructure modernisation, regulatory harmonisation, development of custodial services, and strengthening of the fintech ecosystem to ensure broader investor accessibility and integration into global markets.

Conclusions. The study concludes that fintech technologies serve as a fundamental driver of the transformation of modern capital markets but require a balanced combination of innovation, regulatory adaptation, and risk management. The effective incorporation of fintech tools into stock exchange activities is crucial for building a resilient, transparent, and competitive financial infrastructure in Ukraine and for deepening its integration into the international financial space.

Keywords: fintech; stock exchange activities; tokenisation; blockchain; digital securities; financial infrastructure.

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