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Belarusian Currency and Stock Exchange eager to sell international stock in H2 2018

Economy 12.03.2018 | 19:27
Andrei Aukhimenya. An archive photo
Andrei Aukhimenya. An archive photo

MINSK, 12 March (BelTA) – The Belarusian Currency and Stock Exchange (BCSE) intends to start selling shares of international companies in H2 2018, BelTA learned from BCSE Chairman of the Board Andrei Aukhimenya on 12 March.

The official said: “As far as plans to sell shares of international companies via the BCSE are concerned, the project is developing. There are technical issues with establishing links with foreign stock exchanges. We intend to start offering this service in the second half of the year.”

According to Andrei Aukhimenya, the work will be done via one aggregator. “Three major international stock exchanges will be represented. Which ones exactly is being decided now,” he specified.

The official pointed out that Belarusians are interested in this instrument. “We see that Belarusian citizens are interested in foreign securities. They can get their hands on them via trust management now. It is expensive and complicated,” he explained.

The official also reminded that Belarusian Currency and Stock Exchange intends to allow natural persons to trade in foreign currency. Belarusians can now do it via intermediary banks after the relevant service was launched in 2017. “It allows individuals to get access via banks or directly but the legislation does not yet allow accessing the currency and stock exchange directly. Only banks and non-bank financial institutions can trade on the currency and stock exchange,” explained Andrei Aukhimenya.

The official said that work is in progress to amend the relevant legislation. “We intend to allow natural persons to buy foreign currency on their own by the end of the year. We will carry out the plans. We are technically ready to enable such an option already. Once the legislation is amended, we will launch the project right away,” he said.

Andrei Aukhimenya pointed out that few Belarusians trade in foreign currency for now. “The service is not widely advertised. Banks, which provide this service, have questions about working with the service, too,” he stated.

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