To him, he was against this idea even during establishment of BICEX. He noted that Azerbaijan’s financial market is not so large for conduction of currency and stock transaction on different platforms.
Note that, at present, trade transactions on both corporate and state securities are conducted at BICEX. According to statistics of Q1 of this year, the market for corporate securities observed a decrease by 3.1 times, on the government securities market - the growth of 76.4%, which occurred only through the operations of the Central Bank notes. Operations on the bonds of the Ministry of Finance declined to 132.5%.
Experts of the Ekonomist magazine believe that CBA notes can not be regarded as a market tool, since it is applied only between the banks and are used to sterilize the money supply. In addition, 90% of operations on the notes fall on repo transactions. In these operations the notes are used as collateral, which does not contribute to the development of money market funds.
Ferhad Emirbeyov: “Existence of two stock exchanges in the financial market of Azerbaijan is inappropriateâ€
27 April 2012 12:15 (UTC +04:00)
İDMAN XƏBƏR
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