On January 16, 2016, the first operation on DVP principle was conducted in favor of securities issuer on PJSC “Stock Exchange PFTS” through PJSC “Settlement Center”.
The first trading participant who acted in favor of the issuer and on DVP principle was JSC “TASKOMBANK”. Conclusion of such stock exchange contract permitted the bank to realize its own bond series “C” to the amount of 80.101 mil UAH on the secondary market.
At first, DVP principle ensures fast transfer of assets between parties to the agreement. “Not every counteragent is ready to work on Free Delivery principle as in current economic conditions it brings additional risks. But due to possibility to conclude the contract on DVP principle the risks of the counteragent are minimized”, Yaroslav Shliakhov, Head of Securities Unit, “TASKOMBANK” told.
Trading in favor of the securities issuer on DVP principle became available after the Changes to the Interaction Procedures between PJSC “Settlement Center” and PJSC “Stock Exchange PFTS” took the effect on November 23, 2015. Transactions on DVP principle on PFTS are available for issuers not only on the secondary market but also for IPO purposes.
PJSC “Stock Exchange PFTS” is one of the biggest securities trading organizers in Ukraine. It was established in 1996. It is uncontestable leader on the market for more than a decade. At the beginning of 2016, there were 74 professional participants of securities market-members of stock exchange (leading investment companies and banks). PFTS is a Correspondent of World Federation of Exchanges and a member of International Association of Exchanges in CIS countries. PFTS Index is an official index of Ukraine in S&P Emerging Markets since 1997. At the end of 2015, 37 Ukrainian banks, 30 individuals and 77 legal entities-non-banks were shareholders of PFTS.