Trade Platform At Georgian Stock Exchange Will Be Renewed
Renewal of the trade platform at Georgian Stock Exchange stipulates introduction of trade and accounting systems. Technical re-equipment will be completed in early 2018. The Chair of the Supervisory board of the Georgian Stock Exchange explained that the renewed system would allow them to more effectively serve the equity market after the pension reform becomes effective and the market revives.
In addition, the project envisages renewal of the securities system of the National Bank and engagement of one of the affiliated companies of the stock exchange – Georgian Central Securities Depository. Settlements by securities of any type issued in Georgia will be possible through a unified system.
Shareholders invest in renewal of trade platform in coordination with the National Bank. Giorgi Shagidze, Financial Director of TBC-Bank, explained that the platform will be ready for distribution of recourses generated as a result of pension reform.
“Pension reform is a huge step forward and we support it. The reform will by all means facilitate development of the equity market. A new team works at Tbilisi Stock Exchange on preparing everything for this. Also, the National Bank has an initiative, within the framework of which it allows banks to save issued securities, which in its turn will facilitate equity market development. 13 securities have been listed at Tbilisi Stock Exchange”, - noted Giorgi Shagidze.
Entering of the pension reform into force is planned for 2017.