Two companies ready to become market makers on Azerbaijani shares

Economy Materials 21 May 2015 14:20 (UTC +04:00)

Baku, Azerbaijan, May 21

By Azad Hasanli - Trend:

The Baku Stock Exchange (BSE) will be providing market maker services on equities starting from June 2015, Deputy Chairman of the Board, Director on Operations and Information Technologies of BSE Vugar Namazov said May 21 at the 12th CIS and Baltic Region Bond Congress held in Baku.

"These terms are approximate, but it is planned to complete the preparatory work in a short time," he said. "At present, negotiations are underway with two market participants who wish to act like market makers on the equities."

He said that these are new market participants.

At the same time, Namazov said that currently market makers already operate on the securities market of the country, who deal with corporate bonds.

"Market maker services on bonds started since 2014," he said. "Currently, there are 49 bonds in circulation on the stock market, and there are market makers on 18 bonds."

The contract for rendering market maker services on the securities market of Azerbaijan was signed with Pasha Bank and Bank Standard, which carry out these activities through their subsidiaries Pasha Capital and Standard Capital.

Edited by CN


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