Baku Stock Exchange (BSE) concluded a general agreement with large commercial banks on performing REPO-operations via banks trade systems. BSE President Anar Akhundov told Trend new collaboration had been talked of with the banks; in May, first in national financial market history, the interbank REPO-operation with National Bank of Azerbaijan notes has been performed. Up to now, REPO-operations were performed at NBAs participation by scheme NBA-Bank and bank-NBA, respectively.
Akhundov said interbank REPO-deals are growing in number. If in June one deal was closed, in July they totaled three. In order to stimulate market players and promote this new tool, BSE decided to temporarily cancel commissions on these operations. Such tool implementation will promote raising activity and liquidity at secondary securities market. BSE president suggested other investors might be granted access to this market as today REPO-operations can be performed only between the banks.