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The notion of Vassiliev algebra in case of handlebodies is developed. Analogues of the results of J. Baez for links in handlebodies are proved. This implies that there is a one-to-one correspondence between the special class of finite type invariants of links in hanlebodies and the homogeneous Markov traces on Vassiliev algebras. This approach uses the singular braid monoid and braid group in a handlebody and the generalizations of the theorem of J. Alexander and the theorem of A. A. Markov for singular links and braids and the relative version of Markov's theorem.

ON VASSILIEV INVARIANTS FOR LINKS IN HANDLEBODIES