FEDERATION OF EURO-ASIAN STOCK EXCHANGES
ANNUAL REPORT APRIL 2009
BAKU STOCK EXCHANGE
Khayal Abdinov
Chairman
In 2008 the annual turnover of Baku Stock
Exchange (BSE) on all financial instruments
reached approximately US$ 11.9 billion
being the historical record for the Azeri stock
exchange market. Compared to the same
indicator of 2007, the BSE’s turnover
increased by 73.4% in 2008.
The BSE is planning to introduce a new
trading platform in the first quarter of 2008
which differs from the previous one
HISTORY AND DEVELOPMENT
The establishment of a stock exchange was
a necessary step in the creation of a
modern stock market in Azerbaijan. Due to
its geopolitical location Azerbaijan is an
important regional center of business
activity. In this respect the availability of a
stable and developed securities market
plays a substantial role in the raising of
investors’ confidence in the economy of
Azerbaijan and the region.
The shareholders of the BSE are leading
Azeri and foreign banks and investment
companies. The supreme decision-making
authority of the Baku Stock Exchange is the
General Shareholders Meeting.
PAGE 38
In 2008 the annual turnover of Baku Stock
Exchange (BSE) on all financial instruments
reached approximately US$ 11.9 billion
being the historical record for the Azeri
stock exchange market.
fundamentally, providing for remote access
for the market participants. The exchange
has also been continuing modernization of
its internal rules and documents and this
process will be in progress in 2009, too.
The exchange has already finished
preparation of its new corporate website
(www.bfb.az), and is planning to launch it in
the first quarter of 2008.
The trading floor of the BSE is equipped with
30 computerized trading stations, 18 of
which belong to the shareholders of the
Exchange. The other 12 are available for
new members.
Legal bodies (banks, investment funds,
broker firms) involved in professional
activities in the securities market with special
license from the State Committee for
Securities can become members of the
BSE.
In 2008, the BSE is main focus targeted
development of foreign relations. Particularly,
the BSE visited and established fruitful
relations with the world leading exchanges
such as Deutsche Boerse, NASDAQ, and
NYSE. Another success was hosting of the
FEAS Working Committee meeting in Baku in
May, 2008.
FUTURE OUTLOOK
The BSE plans for 2009:
• to introduce its new trading platform in the
first quarter of 2009;
• to adopt new listing rules and modernize
internal normative framework;
• to launch a new corporate website
(www.bfb.az);
• to continue the intensive work with
domestic potential issuers for bringing them
to the market.