A new stock exchange may be launched in Ukraine, which will become a key element in the modernization of the capital market infrastructure. This was announced by Andriy Suprun, Head of the Corporate Rights and Depository Activities Department of the National Bank of Ukraine, during the discussion “The Capital Market: Why It’s Stalling and What to Do About It”. The event was organized by the Institute for Economic Research and Policy Consulting (IER) within the RRR4U consortium.

According to the NBU representative, the new exchange will operate within a specially created holding company. The shareholders of this structure should be international financial organizations, Ukrainian and foreign investors. This format, according to the regulator, will ensure stability, transparency and international support for the development of the Ukrainian stock market.

It is planned that the holding will control not only the new exchange, but also own a controlling stake in the Settlement Center (83%), as well as a minority stake in the National Depository of Ukraine (NDU). At the same time, control over the NDU (50% + 1 share) will remain with the National Bank. This will allow maintaining a balance between state supervision and private investments.

Suprun emphasized that the creation of the new exchange was agreed with the International Monetary Fund and the European Bank for Reconstruction and Development. He emphasized that the participation of global players, in particular such as Nasdaq or Deutsche Börse, can be a powerful incentive for the development of the Ukrainian stock market, as this will open access to modern technologies, investments and international expertise.

“If leading international operators appear among the shareholders of our exchange infrastructure, this will give a strong impetus to the integration of Ukraine into global financial processes,” the NBU representative noted. He added that such a step would help make the domestic market more attractive to investors and significantly increase the level of trust in financial transactions in the country.

According to Suprun, the reform of the stock market infrastructure has been going on for several decades, but now is the time to move to a qualitatively new stage. The main goal is to create full-fledged financial instruments and form a liquid market open to a wide range of both Ukrainian and international investors.