Abstract: Securities issuance stock relationships that occur between the state, represented by competent public entities that issue securities, and the investors in the process of emission, placement, accounting and redemption of securities, constitute the subject of this study. The system of legal norms that regulate the stated relations, is called securities issuing Law. The author examines the legal regime of issued government securities: internal and external loan bonds, target government bonds, financial treasury bills and treasury obligations of Ukraine, which are the object of issuance relations. The methodological basis of this work is formed with general science (dialectic, analogy, analysis, synthesis) and specific science methods of research (comparative Law, linguistic, historical and legal, formal and logical, systemic and structural, etc. Based on the research conducted, the author draws the following conclusions. Government securities issuing legal relations are financial relations, and securities issuing law that regulates those relations is a sub-branch of financial Law. Financial bills do not share their legal nature with IOUs and are a separate form of debt securities. The novelty of this research is in the comprehensive analysis of the legal base of securities issuing relationships on Ukraine’s government securities market, taking into account the existing research in this field, as well as recent changes in relevant Law.

Keywords: government securities, financial bill, stock market, securities issuance, issuance relationships, government bonds, treasury bonds, backbone factors, funds, Central bank