Rules on Securities Trading amended

11:44 - 28.10.2019


October 28, Fineko/abc.az. The amendments to the Rules on Securities Trading & Derivatives on the Baku Stock Exchange have been approved with the purpose to revive the REPO market and stimulate the participation of financial mediators. The above-said amendments were prepared in compliance with the objectives covered by the Strategic Roadmap on Financial Services in Azerbaijan on the basis of the proposals of representatives of the Financial Market Supervision Authority’s (Fimsa), the Baku Stock Exchange (BSE) and the Association of Stock Market Participants of Azerbaijan (AFBIA).

ABC.AZ reports that the endorsed amendments include matters relating to the development of the capital market, the revival of the REPO market and market-making activities, increasing liquidity and encouraging the participation of financial mediators. The Rules reflect the following important changes with taking into account the experience of advanced countries.

The coverage of corporate securities subject to REPO has expanded. Thus, in accord with international experience, all corporate securities listed in the basic and standard segment of the BSE market can be subject of REPO. Also, the subject of REPO can be both highly rated (minimum ‘B-‘) and other investment securities, the liquidity of which is provided by the marketmaker of the exchange.

 

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