Baku Stock Exchange moves to uninterrupted trading
Azerbaijan, Baku, Jan. 28 / Trend /
The Baku Stock Exchange (BSE) launches a new phase from Feb. 1 in connection with a transition to uninterrupted trading, the Azerbaijani State Securities Committee said today.
The continuous trading (auction) includes the implementation of the agreements at any time during the exchange trading session. Brokers are clients' agents.
'From now on, transactions in which one brokerage company acts as the buyer and the seller (cross-transaction) will be published on the market during a pre-set period to form fair prices, increase transparency and protect investors' interests', a statement said. 'It will be possible to conclude transactions in the BSE trading system at a very good price'.
Conditions will be created for other members of the exchange to offer more competitive prices.
This innovation is being introduced within the institutional development of the market as envisaged in the state programme on development of the Azerbaijani securities market for 2011-2020.
Using new techniques, along with creating foundations at the BSE to form fair and real market prices, will serve to increase the level of the market depth, including the stimulation of supply and demand.