National Securities Market Association wants liberalization of Gazprom's securities market
The National Securities Market Association believes that it is necessary to continue the positive efforts by state authorities aimed at developing Russia's economy and the stock market in particular, that is why it has asked the government and the Presidential Administration to speed up the process of liberalization of the market of Gazprom's securities. The corresponding letters were sent to Prime Minister Mikhail Kasyanov and to the Presidential Administration, the press service of the Association reported. One of the problems in this sphere is the increasing attractiveness of securities of Russia's largest issuers, first of all Gazprom's securities. The functioning of the market of the gas company's securities is hindered by a number of the government decrees that stipulate the list of organizers of the trade and of those who can service operations with the gas giant's shares.
This list does not include main stock exchanges that have high technologies and can provide participants with efficient use of capitals. So the market participants have to implement complicated schemes to get access to Gazprom's market. This situation negatively influences the market's liquidity, the Association points out in its letters.
So the Association proposes to take measures aimed at broadening the list of exchanges that have the right to trade Gazprom's securities.
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