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Government of Ukraine with USAID, EBRD, and ACC to Create an Integrated Center for Capital Markets in the next three years

Minister of Finance of Ukraine Sergii Marchenko attended a ceremony of signing a Memorandum of Understanding between the Ukrainian government, the European Bank for Reconstruction and Development (EBRD), the American Chamber of Commerce (ACC), and the United States Agency for International Development (USAID) in the field of national stock exchange trade and organized commodity markets.

The signing of the Memorandum is the first step towards creating new infrastructure in the capital market.

The Ukrainian government together with the USAID, the EBRD, and the ACC plan to create within the next three years an integrated center for capital and commodity markets in Ukraine - the National Exchange Trading in Capital and Organised Commodity Markets in Ukraine (NEXT-UA).

The main new structural units of NEXT will be the Universal Commodity Exchange, the financial infrastructure company (depository, clearing and settlement center, and trade center), the Arbitration Center, the Advisory Board, and the Investor Relations Bureau. 

The new market infrastructure will involve private ownership by reputable investors and appropriate regulatory supervision and oversight. It will operate transparently, in line with best corporate governance standards and in accordance with European Union legislation.

NEXT-UA will facilitate the integration of Ukraine’s markets into the international ecosystem, improve price discovery for commodities and provide hedging mechanisms for businesses in the form of transparent markets for capital, energy, agriculture and other sectors. It will also help develop financial services based on international best practices and innovative financial technologies.

"It is no secret that over the last thirty years Ukraine has failed to create a viable stock market. Despite dozens of stock exchanges, hundreds of stock market participants, and even several professional associations, the capital market in Ukraine does not play its essential role - redistribution of capital. Building a post-trade infrastructure understandable both for Ukrainian and foreign participants is a necessary element for creating capital market in Ukraine. The presence of international support and a significant role of the private sector is a key to the successful implementation of this ambitious initiative, "- said Sergii Marchenko.