Ukraine to Increase Transparency of Stock Market
OREANDA-NEWS. July 20, 2010. One of the priorities in the reforms is the changes in the financial sector, because without stability in finances the economic development cannot be sustainable. The Vice-Prime Minister Serhiy Tigipko said that during the handover ceremony of Electronic Information Disclosure System (ESKRIN) of the State Commission on Securities and Stock Market. The ceremony, held under the Project USAID "Capital Markets Development", was attended by the Ambassador Extraordinary and Plenipotentiary to Ukraine John Tefft, USAID Project Manager Anne Wallace, chairman of the State Commission Dmitro Tevelev, banks and stock markets representatives.
The Vice Prime Minister welcomed the introduction of the system and its importance for the further development of Ukrainian stock market. "Capital attraction is a critical factor for economic growth in Ukraine. The new system plays in this process an important role, because it will ensure transparency of the processes of internal and external investment" - SerhiyTigipko said.
According to official, the introduction of international standards of disclosure in the stock market will greatly facilitate the investors to make decisions on investment and will significantly increase the volume of securities trading.
"Domestic economy received another extremely important tool for transparency in the stock market and operational support of its members with the necessary information" - the Vice Prime Minister said.