BAKU, Azerbaijan, April 26
By Fidan Babayeva - Trend:
The Central Bank of Azerbaijan (CBA) intends to take some measures taking into account the recommendations of the International Organization of Securities Commissions (IOSCO) on the introduction of international standards on the securities market to reduce the impact of the current situation on the capital market intermediaries, issuers and investors and provide with additional incentives, Trend reports referring to the CBA’s action plan.
"The volume of the companies’ operations with securities decreases given the decline in economic activity during the special quarantine regime,” the document said. “The planned bond emission is postponed. The client portfolio volumes are reduced. This negatively affects the financial performance of the capital market participants, especially its profitability."
The securities market participants are planned to be provided with benefits.
The tariffs for the registration of transactions concluded on the secondary market of shares and bonds on the stock exchange, as well as REPO transactions paid to the National Depository Center are planned to be cancelled till September 30, 2020.
The listing tariffs on corporate bonds included in the listing on the Baku Stock Exchange are planned to be cancelled from April 1, 2020 through January 1, 2021.
The settlements on the repeated market transactions related to the state bonds, notes of the Central Bank and mortgage bonds on the stock exchange are planned to be conducted until September 30, 2020 from the "T + 1" mode to the "T + 0" mode.
The list of documents required by the Baku Stock Exchange when placing securities on the stock exchange using the mass offer method is planned to be minimized until January 1, 2021 (only an extract from the state securities register and the issue prospectus is required).
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