Ukrainian Exchange launches first electronic equity exchange in Ukraine. With the Direct Market Access the stock trading system will provide investors from any location with direct access to trading securities on the stock market.
Direct access to trading on the Ukrainian Exchange provided to individual investors is expected to facilitate the long-awaited stock market development and to open up new investment opportunities for Ukrainian citizens.
The Ukrainian Exchange is a joint initiative of Moscows Russian Trading System (RTS) Stock Exchange and the Ukrainian brokerage companies. The Ukrainian Exchange was first established in May 2008 with authorized capital of 12 million hryvnias (over US $1.5 million).
The exchange will start trading today in 70 of the most liquid local stocks including Ukrnafta, an oil company, Ukrgasbank, Raiffeisen Bank Aval, Ukrtelecom, Dneprenergo and Donbasenergo. There are currently 39 members of the exchange.
In todays difficult economic situation, the Ukrainians are in need of new investment opportunities, says Roman Goryunov, CEO, RTS. The stock trading system with DMA functionality offered by the Ukrainian Exchange will allow investors to trade in the most liquid local stocks on the Order-Driven market with minimum transaction risks, i.e. in the anonymous order book with 100% advance depositing of assets and DVP settlement.
The Ukrainian Exchange will finally make stock market trading accessible to individual investors all over the country, says Oleg Tkachenko, CEO, Ukrainian Exchange. The stock trading system we launched had been adjusted to specifically match the Ukrainian market legislation and requirements. The test trading has been going on for several months, and all accredited brokerage companies are prepared to work with a new, broad range of investors.
L.D.