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Types of activity permitted for professional participants of stock market of Azerbaijan specified
Baku, Fineko/abc.az. Azerbaijan has specified the possibility of combining all types of activities in the stock market. According to the rules of simultaneous professional activities with securities, professional securities market participants (PSMPs) engaged in brokerage activities are prohibited other types of activity in the stock market, except for dealer operations and asset management. Dealers are banned to carry out other activity, except for brokerage and asset management. PSMPs running assets can in parallel deal with only dealer and brokerage activities. Clearing PSMPs are banned to deal with other parallel activities in the stock market, except for depository operations and maintenance of registers of securities owners. Stock markets may engage in depository and clearing activities, but only with government securities and only during the trading session. They are banned other kinds of activity in the stock market. PSMPs, providing depository services, in parallel may run clearing and registers of securities owners – other activity is prohibited for them. Accordingly, the PSMPs running registers are restricted with the right of clearing and depository services. The Rules were approved by State Securities Committee’s chairman Rufat Aslanli by Order #07, which also brought into action the rules on asset management activities in the securities market, the rules of running the securities holder registers, the rules of issue of investment securities and changes in the Depository Activity Standards. Related news
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