Azerbaijani securities to be traded on Turkish Stock Exchange

"When the Central Bank of Azerbaijan (CBA) was instructed to work with capital markets by a presidential order, we saw that nothing was done to this end," Chairman of the Central Bank of Azerbaijan (CBA) Elman Rustamov told today's parliamentary plenary session, Report informs.

"Everything, starting from the legislative base, technological infrastructure to the personnel, must be changed, and in this regard, wide-ranging cooperation is underway with the Turkish state and its financial infrastructure. We have recently agreed to trade the securities listed on the Istanbul Stock Exchange on the Baku Stock Exchange (BSE), and Azerbaijani securities on the Istanbul Stock Exchange. Therefore, we have high hopes for this market. A strategy has been launched to bring the legal framework and infrastructure of the capital market in line with international standards, to promote supply and demand in the market, as well as to ensure integration into the international market," he said.

The total value of the deals on all financial instruments on the BSE in January-October this year amounted to 13,039,900,000 manats, up 28% from the same period last year. The number of deals concluded over the past year increased by 97.5% to 9,231.

Government securities accounted for 50.4% of the BSE's turnover, or 6,573,487,000 manats, which is 1.7% less than a year earlier. During the reporting period, the value of transactions in the corporate securities market decreased by about 4.2 times to 418,928,000 manats, and the value of repo transactions increased by about 3.5 times to 6,047,494,000 manats.