PROSPECTS FOR THE USE OF PAYMENT NETTING: THE CASE OF THE TRANSPORT HOLDING

Abstract

In the current economic conditions, the corporate sector, including as a result of mergers and acquisitions, is represented by large holding structures. Despite the lack of statistical data, it is safe to say that the influence of holding structures on the Russian economy and individual industries is quite large. In the framework of this study, the focus is on vertically integrated holdings, a feature of which is a significant volume of intra-group operations. In order to analyze the use of financial innovations in the liquidity management system of groups of companies, the article assessed the prospects for the introduction of payment netting by analogy with clearing in organized financial markets. When using netting as a way of paying off obligations, you should pay attention to its significant differences from offsetting mutual claims. The advantages of introducing payment netting were demonstrated on the basis of modeling the matrix of internal corporate settlements of the Russian Railways holding. Assessing the prospects for using netting, the author has put forward the main prerequisites: the formation of the core of the settlement system, the automation of settlements under the contract and legal elaboration from the perspective of minimizing tax risks.