The European Bank for Reconstruction and Development (EBRD) is ready to continue work with the National Securities and Stock Market Commission on capital market development initiatives, the bank’s press service has said.
“We look forward to working with the securities commission on other capital market development initiatives,” Matteo Patrone, the EBRD Managing Director for Eastern Europe and the Caucasus, said.
“The European Bank for Reconstruction and Development has worked closely with the National Securities and Stock Market Commission of Ukraine on the preparation of this framework. The work was also coordinated with and supported by the International Swaps and Derivatives Association (ISDA). The EBRD welcomes the approval as an important new chapter in the development of Ukraine’s capital market,” the bank said on its website.
“The new law will contribute to the establishment of a derivatives market in Ukraine,” Patrone said.
“The new law puts Ukraine on the map for the derivatives market and for netting, allowing companies to safely and efficiently hedge their risk and exposure, thus contributing to the development of a local currency financial market,” the report says.
The EBRD is the largest international financial investor in Ukraine. To date, the bank has made a cumulative commitment of almost EUR15 billion through 466 projects in the country.
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