Derivative Instruments Forced Government Securities out of Trading
Deals with government securities on the Baku Stock Exchange in January-August compared with last year's period to September 1 decreased 25.8 times and amounted to 19,156,670 manats. The entire amount came to the placement in the secondary market for bonds issued by the Ministry of Finance.
The total turnover of transactions on all instruments by 1 September totaled 7,341,295,511.74 manats (+ 10.5% compared to January-August last year). The leaders are derivative instruments - in this segment of the financial market transactions amounted to 5,461,341,290 manats (an increase of 4.6 times). The share of debt securities was 1,520,309,890 manats (minus 31.6%). On the volume of placement of bonds the Azerbaijan Mortgage Fund (AMF) on the secondary market had 1,289,774,390 manats, and in the primary market - 31,259,840 manats.
Dramatically reduced the level of repo operations - by September 1 last year, they were at 3,535,442,990 AZN, but this year - 113 518 150 manats. The share market’s role in the total turnover of BSE in the reporting period was 148,003,800 manats (shortfall of 5.1 times). At the same time on the trading floor placement of shares worth 139,080,670 manat was carried out, and in the secondary market it was 8,923,130 manats. --17D-
Economics
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