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The Ukrainian Exchange announced today the launch of the 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.
TheUkrainian Exchange is a joint initiative of Moscow’s Russian Trading System (RTS) Stock Exchange and the leading Ukrainian brokerage companies. The Ukrainian Exchange was first established in May 2008 with authorized capital of 12 million hryvnias (over 1.5 million US dollars). RTS holds a 49% stake in the company with 51% owned by 21 Ukrainian brokerage companies. Around $10 million dollars in total is going to be invested into this project within 3 years.
Roman Goryunov, RTS CEO: “In today’s difficult economic situation, the Ukrainians are in need of new investment opportunities. 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”.Oleg Tkachenko, Ukrainian Exchange CEO: “The Ukrainian Exchange will finally make stock market trading accessible to individual investors all over the country. 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”.
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.
