Central Depository moves to a new payment system
Azerbaijan plans to transition to a new interim payment system for transactions of buying and selling securities. Cash settlements of transactions will be made as the next day of their registration on the Exchange.
Moving to a new clearing system will be implemented in the second half of this year, according to JSC National Depository Center (NDC). Clearing transactions in securities are made by the end of 2013.
The current system allows the client software securities only after making the payment. Whereas future innovation creates a condition of securities market participants to settle the transaction a day later. However, this will be possible to exchange transactions with corporate securities concluded through an IPO and secondary turnover on the exchange. Settlements on operations with government securities will be conducted in real time.
NDC believes that the new system will encourage the deepening of the market.
Within four months of this year were registered 1742 NDC exchange deals totaling 35.2 million manat, 239 OTC (AZN 9.942 million) and 657 deals (2 153.6 million manat) for initial placement of corporate securities. - 08D-
-
- Economics
- 10 June 2014 16:27
Economics
-
The State Oil Company of Azerbaijan (SOCAR) and Subsea7, a global leader in offshore engineering and construction, are exploring further collaboration on new projects in the Azerbaijani sector of the Caspian Sea. During a meeting between SOCAR President Rovshan Najaf and Subsea7 CEO John Evans, the two sides discussed the potential for Subsea7’s technological innovations to play a role in upcoming ventures. They also considered other areas of mutual interest for both companies.
-
According to the State Customs Committee and the State Statistics Committee, Azerbaijan saw a significant increase in meat imports during the first nine months of 2024, amid more modest growth in domestic production.
-
The event "Sustainable Transport of the Future" is being held in Baku on Wednesday, organized with the support of Azerbaijan Railways CJSC, aimed at promoting the concepts of sustainable transport that minimizes environmental impact. The event highlights environmentally friendly transportation options, such as walking, cycling, green public transport systems, and eco-friendly vehicles, all contributing to the reduction of greenhouse gas emissions.
-
On October 23, 2024, the 3rd Conference of Energy Ministers within the framework of the "One Belt, One Road" (OBOR) initiative opened in Qingdao, China. Energy ministers from around the world gathered to discuss critical issues related to global energy security, the transition to clean energy, and innovations in the sector.
Leave a review