This technical review shows how Azerbaijan can boost its capital market infrastructure and reinforce its securities clearing and settlement framework to align with international standards and improve market efficiency and transparency. It looks at the role, functions, and risks of the National Depository Center (NDC) which now serves as a settlement agent following a 2023 Law on Securities Market amendment. Pinpointing gaps in the guarantee-based settlement mechanism, it recommends Azerbaijan consider steps including establishing a clearing fund and introducing margin management. It explains why developing the NCD into a central counterparty would also help support the country's capital market development.
By:
Asian Development Bank Imprint: Asian Development Bank Dimensions:
Height: 279mm,
Width: 216mm,
Spine: 4mm
Weight: 181g ISBN:9789292777678 ISBN 10: 929277767X Pages: 50 Publication Date:27 April 2026 Audience:
General/trade
,
ELT Advanced
Format:Paperback Publisher's Status: Active