BBVB does not plan to introduce new tools in 2011

Business Materials 8 January 2011 17:24 (UTC +04:00)

Azerbaijan, Baku, Jan. 8 / Trend N. Ismayilova /

All the available tools will be preserved on the Baku Interbank Currency Exchange (BBVB) in 2011, Farkhad Amirbekov, BBVB head, told Trend.

"It is assumed that the volume compression of the foreign exchange market in 2011 will be ceased. The harder tools are introduced, the faster they fall out of circulation, as a result of compression of markets. Therefore, it is not assumed to introduce new instruments on the foreign exchange market in 2011. The available tools are expected to keep, " he said.

As of 2010 the total trading volume of currency section of BBVB totaled 710.502 million manat. The joint trading volume of U.S. dollar in the exchange electronic trading system was 708.086 million manat ($883.569 million).

The trading volume in 2010 totaled 2.416 million manat ($2.404 million euro) in EUR / AZN system. Roughly 484 trading sessions were held in the e-trading system (BEST) last year.

Roughly 30 banks participated in it.

The Currency Exchange has begun to modernize technical means since 2007 (the server complex software). All that was used on the stock exchange until now, was acquired mostly in 1996-1997.