The State Committee for Securities (SCS) annulled on January 15 the license of Baku Stock Exchange (BSE) for depository and clearing activities on its own application.
According to the report from the PR Section of SCS, since September 2013 the storage functions of government securities, as well as the provision of services for clearing and settlement of transactions concluded on the stock exchange moved from BSE to the JSC National Depository Center (NDC).
This work is carried out under the State program "Development of the securities market in 2011-2020," according to which on the basis of NDC the central depository system for government and corporate securities has been formed. As a result, creation of a centralized clearing system and its integration to the electronic payment system has been provided.
Currently operating in Azerbaijan are professional participants of the securities market, which provide brokerage (14), dealer (14), custody (2), and clearing (1) services. There are also two companies to register owners of securities and a stock exchange. Asset management licenses belong to three companies. This year, the broker and dealer licenses of ADB Broker LLC are to be renewed. ----08D
Economics
-
Natural gas prices in Europe surged to their highest level since October 2023 on Friday, reflecting expectations of increased demand due to an impending cold spell in the region.
-
U.S. President Donald Trump’s proposed energy and trade policies could lead to a prolonged decline in global oil and gas prices, potentially triggering economic instability in Azerbaijan from 2026 onward, unless significant structural reforms are implemented, economist Gubad Ibadoglu warned in a recent analysis.
-
Azerbaijan has taken a step toward diversifying its agricultural sector by launching the country’s first commercial banana production, with local producer Fruitland introducing tropical fruits to the domestic market.
-
Azerbaijan, Georgia, Turkey, and Bulgaria have agreed on the draft text of a memorandum of understanding in the field of green energy transmission, marking a significant step in the development of sustainable energy ties in the region. The document aims to expand energy exchange between the countries and establish a legal framework for the Green Energy Corridor project.
Leave a review