Baku Interbank Currency Exchange updates electronic trading system

Business Materials 2 August 2013 19:14 (UTC +04:00)

Azerbaijan, Baku, August 2 /Trend, A. Akhundov/

Baku Interbank Currency Exchange (BBVB) updated its stock exchange electronic trading system (BEST), having brought certain innovations to do so, the head of BBVB, Farhad Amirbayov told Trend on Friday.

The launch of updated version of BEST was scheduled for the 20th anniversary, which the BBVB celebrated on July 26, this year. The exchange has already launched the installment of new software in banks and insurance companies, which are trading participants.

The sector of BEST monetary market consists of four segments: The first segment is where monetary indicators BakiBID, BakiBOR have been formed. The second segment is the segment of deposit auction, where commercial banks and insurance companies can participate. The third segment is the segment of the limited money market on placement and attraction of money. The fourth segment is the segment of insured money market.

"The update of our program-technical complex has increased its opportunities. New functions have emerged, which meet the requirements of the market. We regularly conduct monitoring of our major participants for studying the requirements of market. It paved the way to work out and promote new type of application in the currency market - "everything or nothing". If there was only one type of application before, now the participant of trading may submit both divisible and indivisible application. This meets requirements which were declared by the banks," Amirbayov said.

The information-trading system BEST was launched by the exchange in 2002 and became the first stock exchange electronic trading system in the Caucasus.