Trading on Baku and Istanbul stock exchanges may be synchronised
Azerbaijan, Baku, 31 May / Trend E. Aliyev /
The Istanbul Stock Exchange (ISE) has proposed synchronisation of trading on the Baku Stock Exchange (BSE). This would include provision for an automatic offer of securities on the stock exchange in Istanbul for sale at the BSE, the chairman of the State Securities Committee (SSC) Rufat Aslanly said on Friday.
"The Istanbul Stock Exchange is a shareholder of BSE from the first days of its existence. Markets have globalised and there are no boundaries for finances. Whether we like it or not, globalisation concerns us as well. Therefore as a company enters IPO, its securities may be automatically offered on the Istanbul Stock Exchange," Aslanly said.
Earlier, the vice president of the Istanbul Stock Exchange Mustafa Baltadzhy invited the Azerbaijani companies to conduct IPO (initial public offerings) in Turkey. According to Baltadzhy, the daily turnover of the Istanbul Stock Exchange amounts to $1.8 billion.
The SSC head also added that a similar agreement between BSE and the London Stock Exchange has been in existence for about seven months.