Stock market commission to create its IT hub on basis of SMIDA

KYIV. Sept 17 (Interfax-Ukraine) – The National Securities and Stock Market Commission will create an IT hub on the basis of the Stock Market Infrastructure Development Agency of Ukraine (SMIDA) and unite all existing IT systems into the integrated stock market information system, member of the commission Yuriy Boiko has said.

We are talking about a merger of the already operating system for maintaining registers, the system for stock market monitoring, electronic access to administrative services, the development of a trade repository, Boiko said at the conference "Prospects and Realities in the Modern Digital World" organized by the Settlement Center, the National Depository and the Professional Association of Capital Markets and Derivatives Participants in Kyiv.

According to him, such a merger will allow the regulator to operate with information, and market participants will greatly facilitate interaction with it.

"The most important thing is that this communication will be two-way, the participant will be able to use his own online room in terms of management and understanding of all the processes of his activities. For example, if the prudential indicator approaches a critical value, then the participant will automatically be informed about this in the online room," the member of the national commission said.

Boiko said that it is planned to provide external automated systems with the ability to integrate with information resources of the integrated stock market information system using the API.

"Financial technologies in our market are still at the initial point of development […] FinTech, in turn, is an important component, it facilitates work with clients for a market participant, providing high-quality and efficient service. The task of the regulator is to provide a regulatory framework for the development of FinTech and correspond to the present day itself," the member of the National Securities and Stock Market Commission said.