Exchange commission in e-trading reduced six-fold in Azerbaijan
Azerbaijan, Baku, March 31 / Trend /
The exchange fees from the amount of net liabilities as a result of each trading session will be decreased six-fold to increase liquidity in the exchange e-trading system (BEST) of the Baku Interbank Currency Exchange (BBVB) from April 1, 2013, the exchange said on Thursday. At present, exchange commission hits 0.03 percent.
According to the decision, the exchange commission on financial instruments: USD / AZN_TOD, USD / AZN_TOM, USD / AZN_SPT, Swap_USD / AZN_TOD_TOM, Swap_USD / AZN_TOD_SPT, Swap_USD / AZN_TOM_SPT, Swap_USD/AZN_TOD_1Week, Swap_USD/AZN_TOD_2Week, Swap_USD/AZN_TOD_1 Month will hit 0.005 percent. The maximum amount of the fee will hit $ 500 in manat equivalent (according to the official rate of the Azerbaijani Central Bank (CBA) on the day of the auction).
The exchange fee on EUR / AZN_TOD, EUR / AZN_TOM, Swap_EUR/AZN_TOD_1Week, Swap_EUR/AZN_TOD_1 Month will hit 0.005 percent with a maximum amount of 500 euro in manat equivalent (according to the official exchange rate of the CBA on the day of the auction).
The exchange fee on EUR / USD_TOD, EUR / USD_TOM will hit 0.005 percent with a maximum amount of 500 euro in manat equivalent (according to the CBA official exchange rate of the euro compared to the dollar on the day of the auction).
The commission of 0.1 percent was set for RUR / AZN_TOD, RUR / AZN_TOM.
The exchange electronic trading system is a system created on the principle of universality in rendering the exchange services, and today is a modern platform for integrated governance of foreign exchange risks and banks' short-term liquidity. BEST allows Azerbaijani banks not only to conduct transactions in foreign currencies, but active borrowings and placement on the interbank credit market.