ECONOMY


DURATION OF ELECTRONIC TENDERS AT BICE PROLONGED

Beginning from July 3, Baku Inter-bank Currency Exchange (BICE) introduced changes into the regulations of tenders in exchange electronic system. This decision was taken at the request of banks – leading dealers of the currency market, as well as with the aim of the further increasing the liquidity of exchange system of tenders, informational-analytical department of BICE reports. Taking into account this fact, the duration of the trading session on TOM and SPT instruments in BEST system has been prolonged by another 30 minutes. So, the trading session in electronic system of tenders will be held daily, excluding holidays and days off, from 10.00 am to 17. 30 pm.The BEST system introduced at BICE on July 9, 2002, became an important step in development of the currency market in Azerbaijan. The volume of deals in exchange system of electronic tenders increase the amount of 275 billion manats.

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