Baku, Azerbaijan, Jan. 21
By Anvar Mammadov – Trend:
The Baku Stock Exchange (BSE) intends to expand the derivatives market in 2018, BSE chairman Vugar Namazov said in an interview with Trend.
"The availability of derivatives is one of the factors attracting foreign investors," he said. "They need derivatives to insure against risks. We have the necessary technical base to intensify the derivatives market, but we need to improve it."
"We have already started to cooperate with our colleagues from the Istanbul Stock Exchange and Korea Stock Exchange to review their concepts of the derivatives market," he said. "A post trading system should be created for derivatives, as well as the market itself should be developed."
Namazov said that one must not forget about the development and expansion of other markets.
"Stocks and bonds are classic tools of the market," he said. "We should admit that we have not fully developed this segment of the market. To create the derivatives market, we must first create a base on which the derivative itself will be formed."
Namazov said that as for new tools, there is an interest in creating currency pairs with the Azerbaijani manat in the market.
"It would be very interesting for foreign investors," he said. "Currency pairs with manat could be very popular."