Azerbaijan, Baku, Dec 24 /Trend I.Khalilova/
In 2012, Azerbaijan plans to abolish the practice of making targeted sales on the securities market, Chairman of the Azerbaijani State Securities Committee Rufat Aslanli told Trend on Thursday.
"This practice remained from the early stages of the securities market formation" Aslanli said.
It is planned to eliminate this practice in 2012. Therefore, legislation and trade infrastructure will be brought in accordance.
"It will be a significant and qualitative breakthrough in the Azerbaijani stock market," Aslanli said.
The total turnover of transactions on all instruments of Baku Stock Exchange (BSE) amounted to 6.6 million manat up to 3.88 percent in January-November 2011 compared to the same period in 2010.
The corporate securities market increased by 65.99 percent over the same period of 2010.
The figure hit 644.2 million manat. It is stipulated by the increased volume of transactions in corporate bonds by 2.3 times, while the number of deals declined by 7.6 percent, up to 182.
The state securities market increased by 4.5 times, reaching 5.9 billion manat. A sevenfold increase in repo transactions and three-fold increase in operation with notes of the Central Bank, and the number of transactions in these instruments increased by 1.7 and 1, 8 times.
Official exchange rate is 0.7863 AZN/USD.