Ukrainian Exchange, OJSC
In May 2008 the largest participants of the Ukrainian securities market signed the Memorandum of Understanding with the RTS Stock Exchange to create a new exchange in the form of open joint-stock company in Kiev. Such form of ownership was chosen to maintain the maximum transparency of a corporate governance from the very first days.
The General Meeting of the shareholders, which was held in September 2008, confirmed the results of the stock placing. 51 % of these stocks were bought by the Ukrainian broker/dealers.
The 2nd of October 2008 is considered to be the birthday of the exchange. On that day the Ukrainian Exchange was registered as a legal entity.
Оn the 16th of December 2008 the State Commission on Securities and Stock Market of Ukraine granted to the Ukrainian Exchange a license of a regulated market operator.
The mission of the Ukrainian Exchange is to increase the competitiveness of Ukrainian financial markets and to attract not only foreign, but also the domestic capital to the national economy.
To achieve this goal it is essential to build and develop a reliable state-of-the-art securities and derivatives markets, which will meet the best international practices, and will be affordable and accessible for all types of Ukrainian investors – from individual to institutional.
At the first stage the exchange plans to develop the equities market on base of the powerful and reliable trading platform, which will allow connectivity with Direct Market Access systems and provide the minimum settlement risks.
The next step will be development of a derivatives market for a wide spectrum of the Ukrainian financial instruments.