BSE: Foreign stock trade may be introduced in Azerbaijan
Baku, Azerbaijan, May 5
By Anvar Mammadov – Trend:
The Baku Stock Exchange (BSE) explores the possibility of introducing foreign stock trade, Vugar Namazov, acting chairman of the BSE Management Board, said in an interview with Trend.
“There are people who buy securities of foreign issuers in the global capital markets. Of course, it would be cheaper for them to buy the securities here and not to pay an extra fee,” he said.
Certain legal and organizational work needs to be carried out with other countries in order to introduce this mechanism, Namazov said, adding the necessary demand should also be created.
He noted that negotiations are currently underway to create the necessary partnerships with certain countries.
“We have already joined the initiative of establishing such relations with our partners from the UK and Turkey. But this process is still under development,” Namazov said. “In general, I think this mechanism is promising and there is a demand, albeit small, too. Continuation of the work in this area depends on the future demand and supply.”