BAKU, Azerbaijan, April 17. The Baku Stock Exchange (BSE) has started preparations to join the Tabadul hub, part of the Abu Dhabi Stock Exchange, said Ruslan Khalilov, Chairman of the BSE Board, Trend reports.
Speaking at a meeting with reporters, Khalilov emphasized that this is a regional initiative aimed at uniting stock exchanges in one hub.
"Eight exchanges have already joined the hub, with participants from post-Soviet countries, neighboring nations, and the Middle East.
The work on preparing the legal and technical framework for joining this platform is currently underway. Issues such as how the exchanges will connect, how transfers will be conducted, and other matters are being explored. Legally, joining this hub means that, for example, a broker or investment firm operating in Abu Dhabi can trade remotely on the Baku Stock Exchange. Similarly, a brokerage firm in Azerbaijan can join exchanges in Abu Dhabi, Oman, or Kazakhstan and conduct stock trading there," the chairman explained.
The Baku Stock Exchange (BSE) was founded in 2000 to create a structured stock market in the nation. The objective of BSE is to create and enhance market infrastructure that facilitates the trading of securities and ensures effective transaction execution. It serves as the exclusive organizer of securities trading at the stock exchange in Azerbaijan. The members consist of investment businesses entitled to directly participate in exchange trading. At present, the BSE comprises eight members. The legal structure of BSE is a closed joint-stock company, including 19 owners, which include banks, investment firms, and Borsa Istanbul.
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