Finance

Finance

UniCapital provides AZN 678 million worth of brokerage services

22 January 2009 09:25 (UTC +04:00)

Baku. Elnur Huseynguluyev â€“ APA-Economics. In December 2008 Unicapital Open Joint-Stock Company serving 6 customers to the total worth in excess of AZN 83 mn has become a leader among the brokers in Azerbaijan.
Unicapital was also in the top three of dealers with the dealing transactions worth more than AZN 107,000 in December 2008.
Unicapital was established as the wholly owned subsidiary of Unibank Commercial Bank at the end of 2007. Having acquired the brokerage, dealing and securities management licences, Unicapital joined the set of the professional participants of the stock market of Azerbaijan in late January 2008.
The company served more than 30 corporate clients last year and the value of the brokerage services provided to them reached AZN 678 mln including trades in the notes of the National Bank of Azerbaijan (worth more than AZN 266 mln), in the T-bills (AZN 92 mln) and REPO & ex-REPO transactions (AZN 302 mn). Also, the company provided its customers with the service that consisted in the trade in corporate securities (shares and bonds) and ensured the appropriate registration of the proprietary rights. The personnel of the company conducted transactions on the open spot of the Baku Stock Exchange as well as in the extra-BSE market.
It should be noted that in February of last year Unicapital bought from its founder Unibank CB the share in the capital of Baku Stock Exchange (BSE) and thus became a shareholder of BSE with the 5.56% equity parcel.