First market-making institute established in Azerbaijan

Baku Stock Exchange(BSE) has started negotiations with several market participants, who officially applied to the BSE in order to act as market-maker on the market, the report, published on BSE website on Saturday, says.

"The first market-maker is expected to enter the securities market by the end of this year", the report says.

On August 15 of 2012 the Supervisory Board of Baku Stock Exchange adopted the market-making rules of the stock exchange. The rules will provide for establishment of the market-making institution and regulation of its activity on the BSE.

In parallel to the rules, the BSE has finished development of the mechanism of bilateral quotes in the trading system of the exchange as well monitoring block for market-maker obligations and some other technical innovations in respect to the newly adopted rules. Currently this new functional of the trading system is being tested and the market-maker tariffs being prepared by the stock exchange.


/Trend/