New architecture of securities trade to be created in Azerbaijan
Azerbaijan, Baku, July 3 / Trend , N.Ismaylova /
The State Committee for Securities (SCS) of Azerbaijan and the World Bank (WB) started negotiations on a project to establish a new architecture of the trading system in the securities market of Azerbaijan, chairman of SCS Rufat Aslanli said on July 3.
"Today, there are all necessary components of the institutional securities market, including Baku Interbank Currency Exchange, National Depository Fund, including brokers and dealers acting as financial intermediaries for transactions, said Aslanli. - However, all these institutions are at different stages of development, their potential should be sufficiently coordinated and harmonized with a common platform, available worldwide. "
Therefore, according to Aslanli, SCS started to work on a project to create a new architecture of the trading system of Azerbaijan in the securities market.
"Last week, experts from the World Bank were on a visit to Baku, and the Committee held talks with the project team, said Aslanli. - There are plans to continue this process in September."
According to him, as a result will be obtained such a system of electronic commerce, which could be compared with the existing payment systems today. So, it will be possible to trade securities on the BSE in an online regime, as well as create opportunities to transfer the rights on securities electronically.
"We are working to design the project. Currently the project is discussed as technical assistance of the World Bank," said Aslanli.
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