BAKU, Azerbaijan, Dec.9
By Zeyni Jafarov – Trend:
The number of transactions registered on over-the-counter secondary market (OTC transactions) of Azerbaijan prevailed over the primary market transactions despite a large volume of ongoing exchange transactions in the primary market, Trend reports referring to the National Depositary Center (NDC).
According to the center, recently, in the growing and modernizing economy of Azerbaijan, significant work has been carried out to develop the capital market. As the statistical data show, the capital market is rapidly developing. So, in November 2020, 461 exchange and 89 OTC transactions were registered in the amount of 1.01 billion manat ($590 million) and 194.7 million manat ($114.6 million), respectively.
The number of REPO transactions approached 100 in the amount of worth over 183.2 million manat ($107.8 million). Compared to the indicators of the same period of the previous year, the volume of registered exchange transactions grew by 35.1 percent, the volume of OTC transactions - more than threefold, and repo transactions doubled over the year.
The center noted that the study of international experience in capital markets, the application of optimal and advanced world standards are priority issues for the Azerbaijani investment market, and NDC, as one of the fundamental institutions of the capital market, pays special attention to the development of international relations.
NDC is a member of such reputable international organizations as the Association of National Numbering Agencies (ANNA), the International Association of Securities Services and the Association of Eurasian Central Securities Depositories (AECSD).
Besides, the deposit center of Azerbaijan actively participates as an interested party in the organization of international conferences on the securities market.
The NDC of Azerbaijan summed up that in 2019, it registered nearly 6,000 transactions, of which 4,750 were exchange, 605 were over-the-counter, and 635 transactions fell on repo transactions. This year, according to the indicators of the past months, a growth in transactions is expected.
(1 USD = 1.7 manat on Dec.9)
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