Azerbaijan, Baku, April 26 / Trend A. Akhundov /
The Azerbaijani State Securities Committee expects the secondary bond market to revive in 2013, chairman of the committee Rufat Aslanli told media today.
"We expect to witness the activation of the secondary bond market in 2013," he said. "The market maker institution began working which is a very important tool for the market revival. We expect that as a result of continued market maker development, the private sector bond market will be more revived."
The first contract for rendering the market maker services was signed between the Baku Stock Exchange and Pasha Bank on the Azerbaijani securities market in January 2013.
He added that despite the fact the bond market has been traditionally formed at the expense of the Finance Ministry state bonds and notes of the Azerbaijani Central Bank, the situation is now changing. The corporate bond market increased 1.7 times in the first quarter of 2013, while the state securities market declined by 1.72 times compared to the same period of last year.
"We are focused mainly on the private bond market," he said. "A positive dynamic is being observed here. A number of companies raising the funds from the bond market are being increased. The list of sectors represented by the companies is being expanded. Previously, there were mainly companies from the financial sector, but today we see the representatives of ICT and energy sectors here."