The on-exchange securities market is characterized by high adaptability, performance-based pricing and information transparency.
Currently, the following instruments can be circulated at the BCSE trading floor:
- government long-term and short-term bonds of the Republic of Belarus;
- index linked bonds;
- bonds of local executive and administrative bodies (hereinafter - municipal bonds);
- shares of open joint-stock companies;
- bonds issued by banks;
- bonds of legal entities other than banks;
- exchange-traded bonds.
Government securities and securities of the National Bank of Belarus are admitted to trading based upon official results of the primary placement (based on security’s information contained in the Issuer`s decision). As soon as corporate securities and municipal bonds have been listed they are admitted to the BCSE trading.
Transactions in securities are concluded in the electronic trading system. The on-exchange securities market operates in the following modes: "continuous double auction", "repo (free pricing)", "discrete auction", "forward transactions", "simple auction".
Proposed exchange trading and settlement mechanisms are widely used by such public authorities as the State Property Fund Committee for State Property of the Republic of Belarus (for the privatization process purposes), the National Bank of the Republic of Belarus (to maintain and withdraw liquidity of the banking system and to implement monetary policy), the Ministry of Finance of the Republic of Belarus (for funding government deficits through IPO government securities).
Trade technology provides remote trading or workstations at the BCSE. The trading system is adapted to electronic document usage.
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