Baku Stock Exchange to Shift to New Trade System by 2009

Business Materials 27 August 2008 16:41 (UTC +04:00)

Azerbaijan, Baku, 27 August / Trend corr. I.Khalilova / The Baku Stock Exchange is going to introduce new trade system. The representatives of INIST company of Moscow, provider of software program, are expected to pay visit at the beginning of September, Khayal Abdinov, the head of the stock exchange said on 27 August.

"The company has submitted draft version of software program. It will be installed and tested during the visit," Abdinov said.

The stock exchange began to upgrade technical software (north complex, SP), because commercial system, which are being used at the stock have went out of date. Practically, eight years are over and the term of service of servers covers six or seven years.

Technical re-equipment of trade system will enable to extend opportunities of the exchange. Broker companies can use the system from remote access and this will be the main preference. It will be necessary for brokers to upgrade their own programs for this purpose, Abdinov said.

Shift to new commercial system may be completed by 2009.

Moscow company INIST delivered software programs for the Baku inter-bank currency exchange, which has finished the transit process in spring of 2008.

The exchange rate for US dollar is AZN 0.8137 on 27 August.

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