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Table Of Contents

1. Introduction
2. Definitions
3. Information flows and information systems for securities trading
4. Securities trading information flow
4.1. Pre-trade
4.2. Trading
4.3. Post-trade
4.4. Clearing-Settlement-Custody
5. Categories of capital markets information systems
5.1. Information collection and distribution
5.2. Trading tools
5.3. Order-routing systems
5.4. Order-presentation systems
5.5. Settlement and custody systems
5.6. Surveillance systems
6. The prevailing legal and regulatory framework in the EU
6.1. The main EU Directives on capital markets
6.2. The institutional links among capital markets operators
6.3. The role of professional capital markets participants
6.4. The role of the Capital Markets Regulators
7. The prevailing capital markets architectural models in the EU
7.1. The Euroclear model
7.1.1. IT Architecture
7.1.2. Organisational links among various capital markets stakeholders
7.1.3. Institutional links among various capital markets stakeholders
7.2. The Clearstream model
7.2.1. IT Architecture
7.2.2. Organisational links among various capital markets stakeholders
7.2.3. Institutional links among various capital markets stakeholders
7.3. Comparisons between the two
8.1. The Turkish model
8.2. The Russian model
8.3. Benchmarking vis a vis the EU capital markets architectures
9. The proposed architecture for Azerbaijan
9.1. Action plan and time frame for implementation
9.1.1 Global Strategy
9.1.2 Main general task
9.1.3 Main actions and priorities
9.1.4 Ancillary tasks
9.2. The capital markets operators’ positions
9.2.1. The Baku Stock Exchange
9.2.2. The National Depository Centre
9.3. The Capital Markets Regulator
9.4. The professional capital markets participants
9.4.1. The Investment firms
9.4.2. The Banks licensed to provide investment services
9.4.3. The Custodian Banks
9.4.4. The professional capital markets associations
9.5. Linkages among them
9.6. The necessary reforms from the legal and regulatory point of view
9.6.1 the operational aspects of the capital market in Azerbaijan
9.6.2 Important
9.7. The necessary organisational and institutional reforms
10. Conclusions (benefits from the proposed model)
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CONCEPT PAPER FOR AN INTEGRATED CAPITAL MARKETS ARCHITECTURE IN AZERBAIJAN

CONCEPT PAPER FOR AN INTEGRATED CAPITAL MARKETS ARCHITECTURE IN AZERBAIJAN

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Published by Ala Agrici

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Published by: Ala Agrici on Mar 02, 2011
Copyright:Attribution Non-commercial

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07/18/2013

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