Stock exchange

A stock exchange is an organised trading venue for concluding transactions in securities and derivative financial instruments. The exchange sets the trading rules, matches participants’ orders and publishes price information.

Functions

• Organising trading and matching orders;
• Admitting securities to trading (listing);
• Publishing price and volume data;
• Supervising the activity of trading participants;
• Passing data on concluded transactions to the settlement system.

Link with the NDC

The transfer of securities and settlement for transactions concluded on the exchange are carried out at the National Depository Center. The exchange and the depository are thus two separate, complementary links: one concludes the transaction, the other settles it.

In the Republic of Azerbaijan, the stock exchange function is performed by the Baku Stock Exchange.