BAKU, Azerbaijan, March 13
By Eldar Janashvili - Trend:
Amendments to the rules for listing, delisting and organizing trading in securities, including the rules for organizing and conducting trading in securities and derivative financial tools have been made at the Baku Stock Exchange (BSE), Trend reports referring to BSE.
The amendments to the listing rules, in accordance with international practice, have led to the formation of market segments and the optimization of listing processes.
So, the main and standard market segments were determined on listing of shares and bonds, while the alternative market segment was abolished.
At the same time, issuers who do not have a listing agreement with BSE and do not actively trade in securities were excluded from the listing, so that only liquid securities remained in the listing.
Such an approach will contribute to the formation of exchange indices and the creation of derivative financial instruments based on stocks in the future, which, in turn, will lead to an increase in the number of quoted securities and market capitalization in the long term, and will also form an effective stock exchange that provides the opportunity to finance the real sector.
The changes in the listing rules open possibilities for organizing of securities trading at the BSE without being included in the listing, which will allow faster and easier trading in securities and closed placements outside of the listing.
In addition, taking into account similar experience on leading exchanges, the procedure for placing securities issued by international organizations of which Azerbaijan is a member has been simplified.
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