Abstract
This paper is focused on the area of capital markets, namely on regulation of stock exchanges and commodity exchanges. The subject matter is a legal dualism, which emerged along with different regulations of stock exchanges and commodity exchanges.
In 1992, two laws were adopted: Act No. 214/1992 Coll., on the stock exchange, which has determined the stock exchange as a specific legal form (sui generis), which is close to joint-stock companies, and Act No. 229/1992 Coll., on commodity exchanges, which has determined the commodity exchange to be a legal entity organizing the commodity business with substitutable goods, having specific legal form (sui generis), which is close to limited liability companies. This resulted in a legal dualism, which heavily influenced the regulation of organized markets and set disparate conditions for investors and business activities in the area of organization of securities and commodities markets, which significantly increased in the coming years.
The trends, especially in the EU, are quite different. The goal is both instrumental and institutional convergence of organized securities and commodities markets.