Thursday June 4 2015

News Source: Global Exchanges

Focus: Trading Rules

Type: General

Country: Azerbaijan

Link: http://www.meclis.gov.az/?/az/law/916/1




The Parliament of Azerbaijan has passed the draft law on Azerbaijan’s securities market in the second and third reading. The draft law is part of the implementation of the State Program to develop the securities market between 2011 – 2020 which was approved on 16th May 2011.

The main provisions of the Law include:

  • The Central Depository of Azerbaijan and the Central Clearing Chamber will be established under the National Depository Center;
  • Securities will be traded only in e-format;
  • Only licensed participants will be able to conduct professional activities on the market;
  • Licensed entities must prepare their financial statements in accordance with International Financial Reporting Standards; and
  • The Central Bank of Azerbaijan will have the right to make investments into the securities market.

Click on the link above for further details.