TODAY.AZ / Business

Securities market sees rise

17 February 2017 [12:52] - TODAY.AZ

By Azernews


By Nigar Abbasova

The securities market of Azerbaijan recorded a growth in 2016, reaching the volume of 14,026 billion manats ($8.109 billion).  

The Financial Market Supervisory Body (FMSB) reported that the increase amounted to some 33 percent.

The primary securities market was set at 8.67 billion manats ($5.01 billion), recording an increase of 4.5 times in the reported period.

The market of state securities increased almost 40.2 times and stood at 836.2 million manats ($ 483.5 million), while the turnover in the market of corporate securities recorded almost a twofold growth and stood at 8.75 billion manats ($ 5.05).

The market of derivative instruments stood at 4.44 billion manats ($ 2.56), facing a reduction of some 28.3 percent.  

Azerbaijan has set five strategic objectives and 16 priorities for the development of financial services by 2020. The objectives are reflected in the Strategic Road Map for Development of Financial Services in the country.

The development of the securities market in the country is currently in focus of relevant financial authorities of Azerbaijan and a number of international organizations.

 The World Bank earlier completed the implementation of the Capital Markets Modernization Project (CMMP) in the country. Among the most notable results of the project are enactment of the modern Law on Securities and implementation of new regulatory requirements, which are in line with the best international practices.

Besides, the project contributed to the establishment of the Centralized Trading System (CETA) which linked investors, market-players, Baku Stock Exchange and National Depositary Center in a single trading and post-trading system, significantly reducing transaction time and costs.

URL: http://www.today.az/news/business/158705.html

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