BBVB Commences Transfer to New Trade System
Azerbaijan, Baku, 14 March, 14 March / corr. Trend / Baku Inter-Bank Currency Exchange (BBVB) has circulated a set of documents among the business banks enabling them to transfer to the new trade system, Farhad Amirbayov, the head of BBVB said.
According to Amirbayov, the transfer process may begin by mid of April. The meetings are expected to be held with the banks to discuss the changes taking place in the currency market and instrumentsnecessary for the new realities.
Importance of introducing new currency swaps, forwards and TOM will be discussed with the banks. The Exchange will fix the date of introduction of above-mentioned instruments only after the consultations are held with the banks.
The currency exchange began a deep modernization of technical means (server complex and software) since 2007. The software and server was completely changed within the technical re-equipment of the trade system.
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