The American Chamber of Commerce in Ukraine welcomes the adoption of the Draft Law #2284 on financial markets by the Verkhovna Rada of Ukraine on June 19. AmCham members have consistently supported this Draft Law aimed at facilitating the development of the hedging market through strengthening the existing rules and passing the new rules for derivatives.
Ensuring standard modern financial instruments are available to both domestic and international investors to hedge and structure their investments is one of the key priorities of the AmCham Banking & Financial Services Committee. The Draft Law #2284 will introduce not only general rules for the issue of derivative securities, but also world's common financial instruments, such as green bonds and derivative contracts.
This Draft Law will implement mandatory EU requirements of the certain acts of European legislation for the regulation of derivatives transactions. Also, the Draft Law previews:
- the introduction of the institution of a regulated market operator to ensure centralized conclusion and execution of agreements;
- the creation of a trading repository for the full functioning of derivatives markets;
- the introduction of a central counterparty to remove the risks of non-compliance with agreements and calculate them.
We are grateful to the Members of Parliament for the support in the adoption of the Draft Law #2284 as well as National Commission on Securities and Stock Market representatives for its development.
