Securities commission head intends to focus on development of clearing, energy exchanges cooperating with market
Competent actions of the National Securities and Stock Market Commission, which from July 1 will become a regulator of commodity exchanges, and market participants could give a good result in the short term, the new head of the commission Ruslan Magomedov has said.
"Commodity and especially energy exchanges, clearing is what will be of interest to the market as priority, and what I am going to focus on. I see that there is a request and desire: from those who are ready to organize trading, and from those for whom these auctions are being organized," he said in an interview with Interfax-Ukraine.
Magomedov said that there will be a lot of work in this new direction for the National Securities and Stock Market Commission, since there is "fresh ground" to work over. "If earlier the commission "cleaned" those whom it knew, then here it will be necessary to find the right solution so as not to shake out the quality and not leave the poor quality," the head of the regulator said.
At the same time, he said that the commodity market "is live" and has trading in the main asset, therefore, it is necessary to supplement this with the development of clearing and exchanges.
"The correct mechanism is one in which market participants themselves do it, and not the state will act as some kind of creator of something there," Magomedov said.
In his opinion, the infrastructure of the stock market is a business that should be profitable and interesting for owners and investors. "The task of the commission as a regulator is to create such conditions for it to be an interesting business in Ukraine, where international stakeholders will come, where even private investors will invest. I am opposed to promptly pushing someone somewhere, it will all be like a "state TV channel": they will probably watch, but only if it is the only one," the head of the National Securities and Stock Market Commission said.
Commenting on the idea of his predecessor Tymur Khromaev to create an infrastructure holding by the state, Magomedov said that it is interesting, stressing the need to maintain a connection with the market. "If we impose it (the idea), the result will be achieved more difficultly, more expensively and, most importantly, much less likely," he said.