Wiener Börse has enlarged its cooperation radius and will work together with the Ukraine in the future. This agreement was reached today by Wiener Börse and the Ukrainian State Agency for Investment and Innovation and a Memorandum of Understanding was signed. Further partners to the agreement are Oesterreichische Kontrollbank AG (OeKB) and its Ukrainian counterpart, the National Depositary of Ukraine (NDU), as well as the Austrian clearing house CCP.A. The objective of the cooperation is the comprehensive restructuring of the entire Ukrainian capital market.
"Austrian consultants have already helped our Rada, the Ukrainian Parliament, to create a new law for insurance companies. With the signing of the cooperation agreement we want to establish a new working relationship in the field of stock trading. We believe that by working together we will achieve success within the new powerful and enlarged Europe," said Anatoliy Zayets, First Deputy Head of the State Agency of Ukraine for Investments and Innovations (SAUII). He sees SAUII as the "hotline" for the Ukrainian endeavour to becoming a modern and innovative country. One of the most important steps, said Zayets, is the establishment of a developed capital market. "The cooperation with our Austrian colleagues is also an important milestone in the process of the establishment of the NDU and the Ukrainian depository system," stressed Volodymyr Ulyanov, Chief Executive Officer of National Depository of Ukraine at the signing of the agreement.
“International consulting services for capital markets and their institutions are gaining significance for the reputation of the Austrian capital market. Wiener Börse has provided consulting for 34 projects in 18 countries to date. I am very pleased that we are able to provide our expertise to the Ukrainian capital market,” stressed Michael Buhl, Member of the Management Board of Wiener Börse AG. "Austria shows how even smaller capital markets can achieve success. An important condition is the efficient structure of our capital market with a few decentralized service providers and the high degree of international networking among all actors," was how Johannes Attems, member of the management board of Oesterreichische Kontrollbank AG, explained the advantages of the domestic capital market which can also serve as role model for clearing operations: "CCP Austria ensures the secure and smooth settlement of transactions on the cash and derivatives markets of Wiener Börse. One of the most modern and secure settlement and clearing procedures in Europe was created for this purpose," explained Ludwig Nießen, member of the management of CCP.A.
The Ukrainian capital market is marked by a high degree of decentralization. There are currently eight exchanges in the Ukraine and the two largest ones are PFTS Ukraine Stock Exchange and USE (Ukraine Stock Exchange).
