A conference Future securities market of Azerbaijan took place on 7 December in Baku, Trend reports. Development has been observed in the securities market of Azerbaijan over the past 6 years and the average annual growth equal 1,5-2 times, the Head of the State Securities Committee at the President of Azerbaijan, Gunduz Mammadov, stated.
Accordign to him, unlike last years, the participation of the foreign investors in the securities market has importantly increased.
If in 2005 only three non-resident acquired state T-bills with 16 transactions amounting to AZN 5 mln, in 2006 6 investors have purchased T-bills totaling AZN 67 mln, with 46 transactions, he said.
Generally the turnover of the state T-bills has increased in the first and second markets, including the tools such as REPO operations which are also held on base of the state T-bills. If in 2005 no transactions have been concluded over REPO operations, in 2006 10 transactions have been concluded totaling AZN 10 mln, Mammadov said.
He highlighted the 4th divisible growth
If in 2005, 30 transactions have been concluded in amount of AZN 185 mln, in 2006 154 transactions amounting AZN 706 mln, he stressed.
The conference participants mentioned the successes in the local securities market and discussed the directions of the development in the near future. The primary directions are to issue state securities and corporative T-bills. In addition, the participants highlighted the role of the international organizations which provide technical assistance in developing the securities market of Azerbaijan.