Baku. Vahab Rzayev – APA-Economics. The Baku Interbank Currency Exchange (BBVB) and insurance company Ata Sığorta signed an agreement on insurer’s participation in money market MONEY-MARKET of Bourse E-System of Trades (BEST), APA-Economics reports.
According to BBVB the agreement was signed by BBVB manager Farhad Amirbeyov and Ata Sığorta’s CEO Museib Aliyev.
Under the contract, insurer Ata Sığorta gets a possibility of appearance at the wholesale money bank market as a participant equal with banks. BBVB will provide access for the new participant to trading system BEST, and will also provide settlement and information services.
Transactions and settlements in the money market segment are carried out on the basis of the "Provisional Rules of Operations on Raising & Placement of Finances in BEST System”, “Rules of Organization of Trading and Settlements in BEST System”, “Rules of Temporary Settlements on Credit & Deposit Transactions Concluded Within Trading Session BBVB in the Credit Section of Organized Money Market" and "Specifications of Financial Instruments MONEY-MARKET”.
Ata Sığorta became the third insurance company, after Atəşgah Sığorta and Buta Sığorta, which signed a similar agreement.
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