A press conference “Exchange Currency Market. New Opportunities” was held at the BCSE
The project of the Belarusian currency and stock exchange and Bank Dabrabyt on the organization of direct technological access for legal entities and sole proprietors to foreign exchange trading has been completed.
At the press conference held today, Andrey Aukhimenia, the BCSE Chairman of the Board and Igor Likhogrud, the Bank Dabrabyt Chairman of the Board, announced that BCSE and Bank Dabrabyt’s joint project on the organization of direct technological access for legal entities and sole proprietors to foreign exchange trading had been completed. Since March 27, 2019, for the first time in the Republic of Belarus, any legal entity or sole proprietor can buy and sell currency at the BCSE using the remote services of Bank Dabrabyt through its soft- and hardware complex.
During the press conference Andrey Aukhimenia noted that the BCSE was carrying out systematic work to increase the liquidity of the organized currency market in the Republic of Belarus. As part of this work, the BCSE has developed an open API (Application Programming Interface) based on the international FIX/FAST Protocol, which allowed the integration of the BCSE trading system with the remote banking system. The integration enabled business entities to use the soft- and hardware complex of Bank Dabrabyt for automate submission of foreign currency purchase/sale applications in the organized exchange market of the Republic of Belarus, to carry out other operations with the exchange orders such as to withdraw the order; to change the rates and volumes of previously submitted orders.
Transparent pricing, market quotations and presence of all Belarusian banks at currency trading are the main factors that stimulate legal entities to conclude transactions, the BCSE Chairman of the Board said.
Within the framework of the press conference Andrey Aukhimenia honored Igor Likhogrud with a diploma for the most innovative bank in the currency market, as well as the award for the first place in the BCSE ranking according to the volume of transactions at the currency market in 2018.
Head of Bank Dabrabyt’s Treasury Dmitry Kovzov introduced the Bank’s soft- and hardware complex integrated with the BCSE trading system, showed various examples of the Bank’s client online transactions at the BCSE. The soft- and hardware complex of Bank Dabrabyt indicates the best purchase and sale price for USD/BYN, EUR/BYN, RUB/BYN currency pairs at the BCSE. So that Bank’s clients make transactions at the best current exchange rate. Settlements on such transactions shall be made within 30 minutes from the moment of the respective equivalent transfer to the Bank. The Bank does not charge any commissions on such transactions from clients. Clients may not use the current quote of the BCSE, but may place an order in the BCSE trading system under their own conditions. For such transactions (if they had any), the Bank will also transfer foreign currency/BYN to the client within 30 minutes from the moment of the respective equivalent transfer to the Bank. However, the Bank commission for the client will be 0.02% of the transaction amount regardless of the currency exchange transaction volume.
Sergey Kozik, the BCSE Board Chairman Assistant, noted that when placing an order into the BCSE trading system, it is important for clients to monitor not only external factors that affect the exchange rates of the main currencies, but also take into account the situation on the exchange trading session or, in other words, to observe the order book. To do this, legal entities and sole proprietors can use the exchange web service “Exchange-Online”, where the order book is displayed in online mode. Sergey Kozik demonstrated the service and its functionality, recommended business entities to use it for currency exchange operations (the cost of this exchange service is 30 BYN per month).
Brief information.
JSC “Belarusian currency and stock exchange” (BCSE) has been operating in the financial market of the Republic of Belarus for 26 years. The BCSE is among the three largest stock exchanges of the CIS countries, is a member of international associations such as CIS IAE, FEAS.
The total volume of exchange trading in the currency market at the end of 2018 amounted to16.6 billion BYN.
28 banks are participants of exchange currency trading, including 2 non-residents.
As of 01.01.2009, 1056 business entities conduct currency exchange operations at the BCSE, 91 % of the whole amount are legal entities and 9 % are sole proprietors.
JSC “Bank Dabrabyt” (previously – JSC “Bank Moscow-Minsk”) is in the TOP 10 Belarusian banks according to the assets volume and is one of the most effective financial and credit institutions in the country, demonstrating a stable positive dynamics of key financial indicators. Thus, in 2018 the Bank gained 23.7 million BYN of net profit, which is 1.7 times more than in 2017. In 2018, the return on regulatory capital increased 1.4 times compared to 2017 and reached 20.9%.
Bank Dabrabyt took the first position according to the currency market trading volume in the trade participants rating in 2018. The Bank provides its services to more than 10 thousand Belarusian companies.
Direct technological access is the access for legal entities and sole proprietors to exchange currency trading through the Bank’s soft- and hardware complex. As such access is granted, the Bank places an order on its behalf under client’s conditions, and makes two transactions at once: the first purchase/sale transaction on its behalf and the second one with the client for sale/purchase of foreign currency. Thus, the Bank is committed to the BCSE while the client is committed to the Bank.
