Work has begun on a new stock exchange in Ukraine

The National Bank of Ukraine, together with the EBRD, the Ministry of Finance, the Ministry of Economy, and the National Securities and Stock Market Commission, have started implementing a memorandum on the creation of a new stock exchange. This was reported by NBU.

"We are talking about implementing a coordinated operating model that will include trading, clearing, settlement, and custody accounting. It will be based on international best practices adapted to the Ukrainian context," the NBU said .

The memorandum was signed as part of Ukraine's commitments under the IMF Extended Fund Facility program. Before that, the Financial Stability Board approved an action plan to implement the new model.

Initially, it is planned to transfer the management of the state shares in the National Depository and the Settlement Center to the NBU, create a holding company together with an international investor and financial organizations, and launch a new stock exchange that will become the main owner of the Settlement Center.

The final stage envisages the consolidation of all depository services in the National Depository, which will take over the accounting and servicing of government bonds from the NBU. It will operate as a central depository under the control of the NBU, which will become its main shareholder.

The NBU explains that such an integrated system will help attract strategic investment, facilitate access for international participants, strengthen supervision, and support the development of domestic investment.

The Financial Development Committee of the Council for Financial Stability will monitor the implementation of the plan on a quarterly basis.

• The stock market in Ukraine is not actually fulfilling its main function – it is not a mechanism for attracting broad capital into the economy. In December 2024, Danylo Hetmantsev , chairman of the Verkhovna Rada's Finance Committee, said that the stock market in Ukraine had degraded to the point where there were only 1,600 public companies left in the country.
• On July 11, it became known that Ukraine, with the help of the European Bank for Reconstruction and Development , would launch a new stock exchange.