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The NBU has developed a draft law on the stock market

The proposals of the NBU to the new bill include increasing its role in corporate governance

The national Bank of Ukraine with the approval of the Parliament to obtain powers to oversee the infrastructure elements of the stock market. This reports the press service of the regulator.

The proposals of the NBU to the new bill include increasing its role in corporate governance of systemically important infrastructure elements of the stock market. It is necessary to increase the National Bank’s share in equity of noncontrolling interest in less than 51%.

In the future, with the development of the market, the national Bank will reduce its stake or fully withdraw from the capital of the NDU.

Proposals to the draft Law provide for optimizing the activities of the Settlement centre and its transformation from a banking institution to a specialized financial institution.

The document proposes to abolish the monopoly of RTS on the implementation of monetary settlements for transactions with securities on the principle “securities delivery versus payment” (Delivery versus payment, DVP).

At the same time an important stage of transformation of RTS will be carrying out with the participation of international donors and experts сost-benefit analysis (CBA), which is to determine the relevance of Ukraine as a Central counterparty. The results of the SVA will be decided on the participation of the National Bank in the capital of the institution.

If SVA will install the inappropriateness of the development as the Central counterparty in the current scale of the market in Ukraine, the RC will continue to implement a risk-free clearing activities.

 

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