BBVB: transfer of commercial functions to Reuters and Bloomberg is wrong in administrative and market terms
Baku, Fineko/abc.az. The Baku Interbank Currency Exchange (BBVB) has come forward for the first time with a detailed statement on the matter of transfer of national functions of trading in currency and securities to global trading systems Reuters and Bloomberg.
BBVB manager Farhad Amirbekov has claimed that success of trading system DELTA of the Moscow International Currency Association (MICA), which managed to intercept the garland from Reuters Dealing on the Russian market, shows the incorrectness of the transfer of national trade functions to international trading systems.
"This step is wrong, both in administrative and in market terms. International trading systems were largely created in the 70s of last century, with a view to the globalization of the world economy and global trade. Today, however, much of the market operators do not need it," Amirbekov said.
He also emphasized that the global trading systems are technologically less advanced and friendly to users.
In 2011, interbank trading in currency was transferred to the Central Bank of Azerbaijan to Bloomberg system.
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