Verkhovna Rada approves law on introduction of new financial instruments

Verkhovna Rada approves law on introduction of new financial instruments

Ukrinform
The Verkhovna Rada of Ukraine has adopted the Law "On Amendments to Certain Legislative Acts of Ukraine on Simplification of Investment Attraction and Introduction of New Financial Instruments".

Some 285 MPs voted for the relevant document, No.2284, an Ukrinform correspondent reported.

The law aims to regulate the functioning of derivative financial instruments, capital markets and organized commodity markets, development of their infrastructure, as well as to protect the rights of bondholders, in particular by providing for a bondholders' meeting and a collective representative of corporate bondholders.

The document determines the legal basis for the functioning of capital markets and organized commodity markets in Ukraine, professional activities in these markets, regulates relations arising during the issuance and circulation of securities, conclusion and execution of derivative contracts and transactions with them.

In addition, the document envisages the creation of a model of the Multilateral Trading Facility (MTF) - a market for small and medium-sized businesses, and the introduction of a flexible market for bonds and derivative contracts - the Organized Trading Facility (OTF).

As expected, trade organizers instead of one license in the stock market and the absence of such in the commodity market will choose from seven licenses in the capital markets and two licenses in the commodity market.

As reported, in December 2019, the Verkhovna Rada passed at first reading the bill, No.2284, on the simplification of investment attraction and introduction of new financial instruments in the Ukrainian capital market.

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