Priorities for 2011 for capital market development in Azerbaijan declared
Azerbaijan, Baku, Nov. 26 /Trend, I.Khalilova/
The State Securities Committee (SSC) of Azerbaijan has identified extensive development of internal resources as a priority for 2011, the SSC chairman Rufat Aslanli said on Friday to a press conference at the headquarters of the ruling New Azerbaijan Party.
"If 2009 was declared the organizational year, 2010 - the year of internal regulations, 2011 was declared the year of development of resources and bringing them to a new level both in terms of quality and quantity," said Aslanli.
According to him, next year, work will continue to improve the platform for securities trading on the Baku Stock Exchange (BSE). De-bureaucratization and automation of marketplace in the securities market has been conducted since last year, as a result of which the trading on the BSE has been fully automated, and investors have gained remote access to trading. In addition, de-bureaucratization and automation of accounting system in the securities market, as a result of which the appeal to the National Depository Center can be made through brokers electronically, rather than directly.
The coordination of electronic trading and post-trading systems has also been completed, which contributed to the implementation of trading in securities within a fully automated platform.
"In the future, we plan to primarily coordinate with the national payment system of the Central Bank of Azerbaijan, as well as begin the process of preparing the terminal for electronic services among active investors and brokers, said Aslanli. - As in the world practice, the introduction of the terminal allows professional participants of securities market and active investors to conduct transactions electronically,"