Baku, Azerbaijan, Jan. 18
By Anvar Mammadov – Trend:
The Baku Stock Exchange (BSE) is preparing a new mobile platform for private investors, BSE chairman Vugar Namazov said in an interview with Trend.
"We have already prepared our strategy for 2018,” he said. “I would like to stress that according to the strategy, we have four main directions of development. One of those directions is to expand the access to the BSE tools and services. In this direction, we intend to prepare a mobile platform for end customers and private investors. The work must be completed by the second quarter of 2018."
Namazov added that the platform will allow those clients to conduct transactions on the stock exchange without leaving the house.
He also stressed that currently, around 60 percent of transactions in the world are concluded via mobile platforms.
"Until now, the end customers had to go to the investment companies and give them the orders for the trading in the capital markets,” he said. “In their turn, the companies had to place the orders on the stock exchange."
“Presently, there is an automated system among the stock exchange, the trading process, post-trading process and broker,” he said. “We want to connect private investors to this automated system. This means that the end customer, after receiving this program, can trade without leaving the house or sitting at work at a computer. A contract with the investment company must be concluded and an account must be opened. Moreover, private investors will have the opportunity to observe the processes on the stock exchange."
The Baku Stock Exchange was established in 2000.