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Role of CIS Exchanges in Shaping of World Exchange Financial Centers Discussed in Baku

Business Materials 31 October 2007 18:37

Azerbaijan, Baku / corr Trend I.Khalilova / The delegation from the Moscow Interbank Currency Exchange (MICEX) headed by Alexander Potemkin, the President of MICEX is on a visit to Baku at the invitation of the Baku Interbank Currency Exchanges (BBVB).

Within the framework of the memorandum on strategic cooperation signed on 3 July 2001 between BBVB and MICEX, the heads of the two exchanges held negotiations on a range of issues regarding the development of exchange infrastructure in Baku on 28-30 October.

During his visit to Baku, Potemkin, as well as E Ellinskiy, the Vice President of the Group and S Orlov, the MICEX Director for International Cooperation were received by Elman Rustamov, the chairman of the National Bank of Azerbaijan. The development of the world exchange industry, formation of world exchange finance centers and the role of CIS in this process, as well as the role of MICEX in overcoming negative factors in the Russian banking system, that was caused by the mortgage crisis in the United States were discussed at this meeting.

BBVB and MICEX are inter-related with close relations, which were established in 2000 during a conference of CIS banks and exchanges. Moreover, the International Association of CIS Exchanges was held in Moscow in April 2000 with the participation of BBVB and MICEX to intensify the interaction of CIS exchanges.

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