Trading on exchanges in Ukraine quadruples in 2010, first exceeds 10% of total trading with securities, says SCSSM
Kyiv, February 2 (Interfax-Ukraine) – Trading on the exchanges in Ukraine quadrupled in 2010, to UAH 131 billion, and for the first time exceeded 10% of the total trading with securities, according to Dmytro Tevelev, the head of the State Commission for Securities and the Stock Market of Ukraine (SCSSM).
"The volume of deals on exchanges for the first time exceeded 10% [of total trading], and amounted to some UAH 131 billion," he said at a press conference at Interfax-Ukraine on Tuesday.
The head of the analytical department at the State Commission for Securities and the Stock Market, Maksym Libanov, said that over the first nine months of 2010, the general trading with securities came to over UAH trillion. He said that the commission forecasts that in 2010 the indicator would be some UAH 1.3 trillion.
A commission member, Oleksiy Petrashko, said that stock trading growth last year was linked to adoption of some legal documents by the commission, which supported the operation of the derivatives market, settled issues of price stability and unified the calculation of stock exchange indexes.
He added that from the point of post trading, the establishment of large-scale correspondent relations between the All-Ukrainian Securities Depository (AUSD) and National Depository of Ukraine (NDU) was an important event of the past year.
Petrashko said that the cancelation of scheduled checks of securities market players promoted more efficient cooperation with the market.
He said as a whole confidence in the organized securities trading market grew in 2010, and the growth in the number of individual traders by over 2.5 times was evidence of this.