16:05 10.06.2016

Private exchanges, association demand rules on insolvent bank asset sale market

2 min read
Private exchanges, association demand rules on insolvent bank asset sale market

Private trading platforms authorized by the Individual' Deposit Guarantee Fund to sell assets of banks under liquidation demand the creation of a working group that will design criteria for the new authorization of trading platforms and include all private platforms authorized to sell bank assets to this group, the Association of Exchanges and Electronic Platforms has said in a press release.

The association said UCG-Monitoring, Polonex, Status Expert, Electronic Trading of Ukraine, INNEX, Ukrainian Universal Exchange and Ukrainian Commodity Exchange signed an appeal addressed to the fund. Three exchange associations: Association of Exchanges and Electronic Platforms, Union of Ukrainian Exchanges and Professional Participants of Commodity Market expressed their desire to join the process of drafting these criteria.

Director of Association of Exchanges and Electronic Platforms Oleh Padalka said that in June the consolidated office of the Individual Deposit Guarantee Fund headed by Yulia Bereschenko is to hold a tender to select platforms authorized to sell assets of insolvent banks. There are no criteria for this, while fund order No. 434, which was approved two months ago instructed that they be drawn up.

He said that the association would do its best not to allow the creation of a monopoly and exclusive conditions for work of any player on the Ukrainian market.

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