The National Commission for Securities and the Stock Market of Ukraine intends to improve the mechanism for allowing securities of foreign issuers to enter the Ukrainian stock market, the regulator has said in a press release.

Draft amendments to the resolution on the access of securities of foreign issuers to the Ukrainian stock market were approved by commission members on March 23, 2017.

According to the draft amendments, securities of foreign issuers which registered the issue of the securities or the offering memorandum at one of the foreign stock exchanges approved by the national commission can enter the Ukrainian stock market; or if the issue of the securities has the International Securities Identification Number (ISIN) and the National Depository of Ukraine (NDU) permitted to register the securities on the NDU correspondent account opened in a foreign depository institution.

The decision to permit the securities to enter the market is made by the commission under an application from the foreign issuer or NDU representing the interests of the owner of the securities.

According to the document, the applicants are to submit the application, the written confirmation from NDU that the securities can be registered on the correspondent account and the documents confirming the powers of a representative of the issuer.

The commission also approved the amendments to the list of foreign stock exchanges approved by the commission. The new list includes the network of stock exchanges, including NASDAQ OMX Group, New York Stock Exchange (NYSE), stock exchanges of EU member countries, London Stock Exchange and Hong Kong Exchanges and Clearing.