ASSESSMENT OF THE PERFORMANCE AND RISKS OF THE TRANSFORMATION OF ORGANIZED COMMODITY MARKETS IN UKRAINE

Abstract

The article examines the transformation of organized commodity markets in Ukraine under conditions of institutional reforms, European integration processes, and wartime economic constraints. The aim of the study is to assess the performance of these markets, analyze their structural characteristics, and identify key risks affecting their functioning. The relevance of the research is determined by the need to ensure market stability, transparency, and efficiency in an environment of resource limitations and increased uncertainty. The methodological framework is based on a combination of structural analysis, comparative assessment, and systematization approaches. The study applies elements of market structure analysis, evaluation of liquidity indicators, and classification of risk factors across different levels. Particular attention is paid to the interaction between institutional changes and market dynamics, as well as to the role of regulatory frameworks in shaping market behavior. The results demonstrate a significant structural asymmetry of organized commodity markets, characterized by the dominance of the energy sector and limited participation of other segments. The research also reveals that traditional turnover indicators are insufficient to fully assess market performance, especially under conditions of low liquidity and fragmented trading activity. A systematization of risks is proposed, including geopolitical, infrastructural, regulatory, and market-related risks, which provides a more comprehensive understanding of the transformation processes and their implications for market stability. The findings also highlight the importance of integrating structural and institutional factors in the evaluation of market performance. The practical significance of the study lies in the possibility of applying the proposed approaches to improve regulatory policies, enhance market transparency, and support the development of organized commodity markets in Ukraine. The findings may also be useful for stakeholders involved in market regulation, strategic planning, and the implementation of recovery-oriented economic policies.