Azerbaijan to enable direct bond purchases from issuers

Azerbaijan's Baku Stock Exchange plans to introduce functionality this year that will allow investors to purchase bonds directly from issuers, a board member said.

The move is aimed at broadening market access and boosting investor interest, Oqtay Gasimov, a member of the exchange"s board, told Report.

"We are upgrading our technological platform to improve access to the bond market so that remote trading in bonds, similar to equities, becomes possible, and we plan to roll out this functionality within the year," he said.

Currently, bond purchases are carried out through investment companies. Under the new system, investors will be able to buy securities directly via a mobile application, bypassing intermediaries, Gasimov added.