OREANDA-NEWS. December 3, 2007. Azerbaijan and Georgia intend to integrate their currency exchanges. Baku Inter-bank Currency Exchange (BICEX or BBVB (Azeri abbreviation) and Tbilisi Inter-bank Currency Exchange (TICEX) held talks over the matter in Tbilisi. BBVB's Manager, Farkhad Amirbekov, informed the Georgian colleagues about the advantages of the financial instruments' electronic trade. He explained the financial instruments used in Azerbaijan's market and the development of exchange clearing systems. He said the entry of Georgian and Azerbaijan banks to international capital markets causes them to develop risk management and introduce new financial instruments to hedge (insure) financial risks. BBVB is ready to help TICEX develop the electronic exchange system. In August, 2007, the sides signed an agreement about their cooperation, which stipulates the technical standardization and legal unification of deals in their trade systems, taking into account the two countries' national legislations.