BSE first invested financial assets in local corporate bonds

Baku Stock Exchange (BSE) for the first time has invested its financial assets in local corporate bonds, which were secured by high-liquidity market makers.

The statement released by BSE on this occasion, however, does not indicate the sum of the transaction.

The decision to "play" on the trading floor was made on the part of BSE this year. To this end, agreements were concluded with the brokerage companies LLC Pasha Capital and LLC Invest-AZ.

BSE believes that “in the local bond market, both at the effective yield and maturity, more favorable conditions than on bank deposits have formed. At the same time, the market value that has formed at the majority of the corporate bonds traded on the BSE, as well as the institute of market maker, provides liquidity to the funds to be invested.”

It is known that in May, the company Invest-AZ received the right to place the bonds of JSC South Gas Corridor at the total cost of $ 917.3 million from LLC PSG Broker, which was selected as the underwriter of the bonds of the JSC, but could not provide services due to lack of membership in the BSE. Prior to that, Invest-AZ showed no activity on the stock exchange and was not included in the ranking of the brokers. LLC PSG Broker was registered in July 2012, with registered capital of 1,250 manat. In early July, the Supervisory Board of JSC Baku Stock Exchange accepted LLC PSG Broker as a member. It became the 18th member of BSE.

Pasha Capital Company is listed in the leaders among brokers. In August 2014 this company headed the ranking of the brokers in the volume of services in the government and corporate securities of Azerbaijan (with the exception of Repo market operations).

In August Pasha Capital provided brokerage services totaling 95,602,160 manat. -0

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