First agreement on market-making activity signed in Azerbaijan

First agreement on market-making activity signed in Azerbaijan

Azerbaijan, Baku, Jan. 21 / Trend A. Akhundov /

The first agreement on market-making activity on the Azerbaijani securities market was signed between the Baku Stock Exchange and Pashabank. From now on, signing of this agreement will serve as the establishment of the activity of the market-making institution on the local capital market.

According to the terms of the agreement, since January 21st 2013 Pashabank, by means of Pasha Capital, will provide the daily quotes on the below-mentioned securities:

Issuer

State registration number/ISIN code of security

Ticker

Volume of buy obligation (on face value), AZN

Volume of sell obligation(on face value), AZN

Price corridor between buy and sell bids, %

Azerbaijan Mortgage Fund

AZ2001008682

AIF001

1 500 000

-

3

"Unibank" OJSC

AZ2008002027

UNBK2

200 000

-

5

"Unileasing" CJSC

AZ2005005197

UNILZQ3

200 000

-

5

"Bakcell LLC" Ltd.

AZ2001009466

BCELL01

200 000

-

5

"Bank of Baku" OJSC

AZ2006005360

BOFBK

200 000

-

5

According to the market-making rules of the stock exchange, the market-maker provides daily compulsory buy and voluntary sell quotes with an aim to ensure the liquidity on the market. The quotes are disclosed on real time basis in the trading system of the BSE as well as on daily basis in the the exchange's website.

PASHA Bank was established in June, 2007 and operates under licence of the Central Bank of Azerbaijan dated Jan.28, 2007.

Its primary objective is to strengthen leadership in the corporate customer service, quality improvement of business on priorities, determined by the strategy, as well as to establish and to develop the long-term and trusting relations.

The official exchange rate is 0,7848 AZN/USD on Jan. 21.

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