OREANDA-NEWS. June 16, 2010. UFC Capital released daily market view:

SSMSC announces plans about further activities. The Securities and Stock Market State Commission (SSMSC) aims to establish a Central Depositary based on the National Depositary of Ukraine (NDU). The Commission proposes introducing a moratorium on the establishment of new securities depositaries in Ukraine. The SSMSC believes that the stake of a single owner (in addition to the state) in the Central Depositary shall not directly or indirectly exceed 5% of the registered capital. In order to implement this goal, the SSMSC proposes establishing full-fledged correspondent relations among existing depositaries.

Furthermore, in its draft Strategy for Ukraine’s Stock Market Development until 2015, the SSMSC relays its plans to introduce supervision over professional participants in the securities market based on risk assessments (prudential supervision). In particular, the SSMSC provides for the introduction of universal standards for all market participants with respect to calculating the core indicators in accordance with international standards, in addition to requirements for capital calculation by professional participants on a daily basis, the development and implementation of modern risk assessment methodologies, the introduction of electronic documents flow and use of digital signatures upon professional participants’ submission of reports and administrative data to the regulator.

The SSMSC also proposes toughening rules regarding the regulation of corporate fixed-income securities. In particular, the Commission is in favor of introducing the institute of bondholders’ meetings and providing them with certain rights designed to protect their interests.

The SSMSC announced plans aimed at facilitating the development of a more civilized OTC market. The Commission plans to focus its activities on the disclosure of information about signed agreements, making transactions more transparent, and preventing unfair deals involving financial instruments.

Equity market. On June 15, the Ukrainska SE index rose 2.53% to 2,057.90 points. After opening below zero, the index demonstrated a steady bullish trend throughout the trading session. The trade volume on the spot market amounted to 86.6 mln hryvnia, and totaled 5.5 mln hryvnia on the derivatives market.

On the exchange’s order-driven market, the growth leader was Mariupol Illich Iron and Steel (MMKI; RECOMMENDATION WITHDRAWN), which surged 19.4%. Luganskteplovoz (LTPL; SELL) fell the most, down 12.0%.

The indices of the world’s largest stock exchanges reacted to Moody’s ratings downgrade of Greece’s ratings by 4 stages, from A3 to Ba1, in the morning of Tuesday, June 15 (Ukrainian time). However, closer to the middle of the Ukrainian trading day, most indicators returned to the green zone.