News Column

First repo transaction with corporate bonds concluded in Azerbaijan

February 28, 2014

Baku, Azerbaijan, Feb. 28

By Abbas Akhundov - Trend:

The first repo transaction with corporate securities worth one million manat was concluded at the Baku Stock Exchange (BSE) on Feb. 28.

The transaction on Bakcell Ltd's bonds was concluded between ADB Broker and Pasa Kapital.

Pasa Bank acts as a market maker.

The yield on the transaction for one day and the amount worth 999.897.33 manat was three percent.

"REPO transactions with corporate securities will give an impetus to increase the liquidity on the securities market," BSE reported.

The BSE started holding repo and reverse repo transactions with investment securities since February 25.

Earlier, the repo transactions with the Finance Ministry's bonds and Central Bank notes were held at the BSE.

The official exchange rate is 0.7845 AZN/USD on Feb. 28.

Translated by NH

Edited by SM

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Source: Trend News Agency (Azerbaijan)

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