Ukraine proposes member-exchanges of IAE of CIS to apply common standards
Azerbaijan, Baku, Nov. 27 / Trend N.Ismayilova /
The Ukrainian Interbank Currency Exchange (UICE) proposed the members of the International Association of CIS Exchanges (IAE of CIS) to connect to the information spread system FTN developed by the UICE, Chairman of the Board of UICE Peter Pereverzev said in Baku.
"We invite all IAE members to take part in a seminar to be held in Kiev in order to familiarize with the methodology of the FTN system. Date of the seminar will be agreed with the parties," Pereverzev said.
He said this product can become an information wrapper for all exchanges in the region. Data available on the site cover all the activities of stock exchanges, financial reporting, the reports of the State Securities Committees and statistics. The project aims at creating a common information system for the rapid exchange of financial information and access to trade data.
"To date, the portal covers all the exchange information on the Ukrainian market and about half the data on the Russian stock market. In addition, negotiations are underway with the Belarusian and Kazakh stock exchanges on provision of the data," he said.
The above countries, as well as Poland, are expected to connect to the FTN system in 2011, Pereverzev said.
"We hope that the International Association of Exchanges will support our idea, because the introduction of common standards for the information spread is the most important, especially for foreign investors," he said.
FTN registered in London, but operates mainly in Moscow. The company has an office in Hong Kong since the UICE interested in the Asian market.
Baku hosted the fifth annual meeting of the International Association of CIS Exchanges (IAE of CIS) marketing and information organizations' heads on Nov.26.
The IAE of CIS was established in Moscow in April 2000 to coordinate efforts to develop organized financial markets in accordance with international standards.
The IAE of CIS includes 20 organizations from ten CIS countries, playing a key role in the maintenance of mutual financial turnover, transactions in currency, government and corporate securities.