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The International Association of Exchanges of the CIS Countries (IAE CIS) has held its general meeting, attended by heads of 21 organizations from 9 countries of the Commonwealth (Azerbaijan, Armenia, Byelorussia, Georgia, Kazakhstan, Kirgizia, Russia, Uzbekistan and Ukraine), including 18 exchanges and 3 depositories. The meeting discussed the results of the Association’s performance in 2006-2007.
At the meeting, the MICEX President Alexander Potemkin said that “today’s most important task is integrating the stock markets of the Commonwealth countries by providing mutual admission of issuers and professional participants and investors. One of important measures aimed at securing this integration must be the creation of an IT committee within the IAE CIS. The committee’s main task will be the development of the general concept of the technological access of participants in trading-members of the IAE and the compatibility of trading, broker, information and analytical systems as well as different telecommunication products of the CIS countries.”
The meeting studied the program of the IAE CIS, covering currency and financial interaction, the formation of the organized stock market of the CIS countries, the development of the exchange-based market for futures and options, the development of the exchange-based commodity markets, information and analytical support for the activities of the IAE CIS and cooperation in the area of soft- and hardware. Special attention was paid to the development of the commodity market in a number of the CIS countries, primarily, Uzbekistan.
Participants in the meeting also discussed the policy of admission of new members to the IAE CIS.
One of important issues discussed at the meeting was the improvement of interaction among organizers of trading, primarily at the level of specialists. This interaction should include exchange of experience among technological, information and analytical, marketing and client services of exchanges of the CIS countries. This exchange of experience must promote the development of exchange-based markets of the CIS countries.
Background
The International Association of Exchanges of the CIS Countries was established in 2000 in Moscow to coordinate the development of organized financial market?s in accordance with international standards. The IAE CIS is comprised of 21 organizations representing 18 leading exchanges and 3 depositories from 9 countries of the Commonwealth, which play the key role in serving the mutual financial turnover, transactions in foreign exchange, government securities and stocks of companies.
