Green light to the development of opaque OTC market
Baku Stock Exchange (BSE) has announced the data for OTC transactions in investment securities during the period 31 April - 31st May this year, which showed that the maintenance of certain structures of the stability of this platform opaque market.
Within the period indicated on the OTC stock market transactions were recorded for a total of 9 862,7 thousand manats. It is 2.4 times more than a five-month secondary market turnover of shares on the BSE. According to the exchange, in May this year, the securities of financial institutions have signed deals worth 7,229.4 thousand manats, industrial companies - 1,616.2 thousand manats and others sectors of the economy - 517.1 thousand manats. In this case, all operations are carried out approximately at par value of the securities.
Since March 2012 the BSE hides data on specific transactions in the OTC market. According to the "Rules of transactions for the sale of registered investment securities", which have been approved by the State Committee for Securities in August 2011, the BSE mandated to publish almost all aspects of OTC transactions, except for its concrete sides. In addition, the OTC platform is a favorite spot for insider dealing, contrary to regulations SSC (December 2012) are also disclosed.
Corresponding to the question of Turan "Why does the SSC not control a violation of the Exchange's requirements for openness," the head of this department Rufat Aslanli said that "on the website of BSE you can find a lot of information." - 08B-
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- Economics
- 6 June 2013 15:44
Economics
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