KYIV. Oct 26 (Interfax-Ukraine) – The National Commission on Securities and the Stock Market has prepared a package of bills to establish a regulated market of raw materials and launch derivatives, its head Timur Khromaev has said.
“We’re collecting parliamentary groups and the committee to present them a set of laws on derivatives and regulated markets,” he said in an interview with Interfax-Ukraine.
Khromaev stressed that Ukraine is almost the only country in the world which does not regulate the raw materials market.
“In these draft laws we introduce the notion of a regulated market of raw materials and a capital market and also introduce other new concepts, new principles of work and capital requirements,” he said.
According to him, the Ministry of Economic Development and Trade and the Ministry of Agricultural Policy and Food agree with the fact that the securities commission is now the engine which is driving the development of the commodities market.
“They support the idea that we need to streamline this market and use the principles of work of the stock market to increase the transparency of the market of raw materials,” the expert said.
He said that the prepared set of draft laws is currently being coordinated with these ministries, while the EBRD and USAID are also actively participating in the process. The commission also intends to hold active discussions with other regulators and with Ukrainian and global market participants.