ASHGABAT, Turkmenistan, September 1. The State Commodity and Raw Materials Exchange of Turkmenistan has carried out further modernization of the procedures for the participation of Turkmen entrepreneurs and enterprises in exchange operations, Trend reports.
According to official data, Turkmen entrepreneurs and enterprises will be able to carry out trading operations on the exchange faster by acquiring a brokerage position or concluding contracts with exchange intermediaries for the provision of brokerage services.
Those wishing to participate in trading can purchase brokerage positions on the basis of an application for the purchase of brokerage positions to the relevant department of the exchange, a power of attorney issued by the director to the broker, a sample of the general power of attorney, as well as bank details approved by the director.
The cost of a brokerage place for 1 year for the participation of domestic entrepreneurs and enterprises in exchange transactions is set at 10,000 Turkmen manats ($2,854).
Meanwhile, the State Commodity and Raw Materials Exchange of Turkmenistan is one of the most important economic institutions for regulating the wholesale market of the country and performs analytical and regulatory functions in the implementation of export-import operations. Currently, with the introduction of a digital system on the exchange, the conduct of commercial transactions and registration of contracts is constantly being improved.