ANNUAL REPORT JUNE 2010
FEDERATION OF EURO-ASIAN STOCK EXCHANGES
UKRAINIAN STOCK EXCHANGE
Valentin Oskolsky
Chairman of the Board
Trading value of the Ukrainian Stock
Exchange (USE) in 2007 amounted to US$
16.8 million. If we analyze trading structure
by market instrument, we can see that
trading value for derivatives increased to
15.5% from 0.05% in 2006, but trading
value for corporate bonds decreased to
17.3% in 2007 from 53% in 2006. The most
traded instrument was state-owned shares.
The USE activity throughout the year was
focused on improvement of trading
HISTORY AND DEVELOPMENT
The USE is a pioneer in the capital market of
Ukraine, created according to “Law on
Securities and the Stock Exchange”, and
registered by decision of the Cabinet of
Ministers on 29 October 1991. The USE is a
closed joint-stock company with an
authorized capital divided into 288 ordinary
nominal shares belonging to legal entities. In
1997, according to the Law “On State
Regulation of Securities Market in Ukraine”,
the Securities and Stock Market State
Commission re-registered the USE. Since
June 1998 the USE has been a self-
regulated organization. There are 100
registered brokerage companies as USE
members. The USE has 3 branches in the
largest Ukrainian regions.
The USE is a member of the Coordinating
Council for the functioning of securities
market charged by the President of Ukraine.
It’s also a member of the Consulting &
Experts Council in the SSMSC, the Ukrainian
Chamber of Commerce and Industry, the
Academy of Economic Science and the
Academy of Engineering Science of Ukraine,
the Board of Ukrainian Council on Economic
PAGE 158
The USE activity throughout the year was
focused on improvement of trading
technology, widening the number of market
instruments and supplementing the market
information.
technology, widening the number of market
instruments and supplementing the market
information.
The USE also provides educational activity.
The USE is a co-founder of the Kiev
Slavonic University continued its work with
students, through the Securities Chair.
Starting from 2002 there has been a
Student Stock Exchange at the USE. Every
student has an opportunity to become an
exchange specialist and then a broker.
Education and the Ukrainian Community
“Intelligence of the Nation”. Chairman of the
Board of USE Mr. Valentin Oskolsky is also
President of Union of Economists of Ukraine
and President of Article Numbering
Association “GS1 Ukraine”.
The USE has created many educational
programs in association with the Kiev
Slavonic University.
The official publication, “Hermes”, can be
found in the daily newspaper “Ukraine-
Business”.
FUTURE OUTLOOK
Plans for the USE in 2008 include:
• expansion through the System of Electronic
Trading (SELT USE) secondary securities
turnover and trading the internal state loan
bonds;
• creation of the conditions and basis for
formation and development of a derivatives
market;
• taking actions to attract new members to
operate in SELT USE;
Through gaining theoretical and practical
knowledge and accumulating experience,
students realize the importance of capital
markets and can better make their choice of
future professions.
It is our belief that the USE has chosen a
strategy that will gradually result in
transparent, liquid, investment and an
attractive capital market.
• participation in the privatization processes
planned to be implemented by the State
Privatization Program and the Law of Ukraine
“On State Budget of Ukraine for 2008”;
• improvement of technologies for trading
State-owned shares of privatized companies;
• promotion for the attraction of direct
national and foreign investments to develop
strategically important industry companies
during the process of its privatization;
• development of the electronic
documentation turnover and electronic digital
signature according to new Ukrainian
legislation;
• development of Exchange information
areas, expansion of publishing, scientific,
methodical and educational activities in order
to prepare specialists for national capital
market; and
• strengthening the international cooperation
with foreign stock exchanges and
international financial organizations.