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FEDERATION OF EURO-ASIAN STOCK EXCHANGES SEMI ANNUAL REPORT OCTOBER 2008UKRAINIAN STOCK EXCHANGEValentin OskolskyChairman of the BoardTrading value of the Ukrainian Stock Exchange(USE) in 2007 amounted to US$ 16.8 million. Ifwe analyze trading structure by marketinstrument, we can see that trading value forderivatives increased to 15.5% from 0.05% in2006, but trading value for corporate bondsdecreased to 17.3% in 2007 from 53% in 2006.The most traded instrument was state-ownedshares.The USE activity throughout the year wasfocused on improvement of tradingtechnology, widening the number of marketinstruments and supplementing the marketinformation.The USE activity throughout the year wasfocused on improvement of tradingtechnology, widening the number of marketinstruments and supplementing the marketinformation.through the Securities Chair. Starting from2002 there has been a Student StockExchange at the USE. Every student has anopportunity to become an exchange specialistand then a broker. Through gaining theoreticaland practical knowledge and accumulatingexperience, students realize the importance ofcapital markets and can better make theirchoice of future professions.It is our belief that the USE has chosen astrategy that will gradually result intransparent, liquid, investment and anattractive capital market.The USE also provides educational activity.The USE is a co-founder of the Kiev SlavonicUniversity continued its work with students,FUTURE OUTLOOKPlans for the USE in 2008 include:• expansion through the System of ElectronicTrading (SELT USE) secondary securitiesturnover and trading the internal state loanbonds;• creation of the conditions and basis forformation and development of a derivativesmarket;• taking actions to attract new members tooperate in SELT USE;• participation in the privatization processesplanned to be implemented by the StatePrivatization Program and the Law of Ukraine“On State Budget of Ukraine for 2008”;• improvement of technologies for trading Stateownedshares of privatized companies;• promotion for the attraction of direct nationaland foreign investments to develop strategicallyimportant industry companies during the processof its privatization;• development of the electronic documentationturnover and electronic digital signatureaccording to new Ukrainian legislation;• development of Exchange information areas,expansion of publishing, scientific, methodicaland educational activities in order to preparespecialists for national capital market; and• strengthening the international cooperationwith foreign stock exchanges and internationalfinancial organizations.CONTACT INFORMATIONContact Name Mrs. Hanna YatsyukE-mail hanna.yatsyuk@ukrse.kiev.uaWebsite www.ukrse.kiev.uaPAGE 86
FEDERATION OF EURO-ASIAN STOCK EXCHANGES SEMI ANNUAL REPORT OCTOBER 2008UKRAINIAN STOCK EXCHANGEOFFICIAL 6 MONTH STATISTICSUS$ millions# Shares millionsTotal Volume Average Daily Volume Total Volume Average Daily VolumeStocksJan-08 0.10 0.05 2.52 1.26Feb-08 0.23 0.11 6.53 3.26Mar-08 0.03 0.01 0.40 0.20Apr-08 0.01 0.01 0.01 0.01May-08 0.01 0.01 0.01 0.01Jun-08 3.03 0.76 19.65 4.91TOTAL 3.39 0.16 29.12 1.61BondsJan-08 0.00 0.00 0.00 0.00Feb-08 0.00 0.00 0.00 0.00Mar-08 0.00 0.00 0.00 0.00Apr-08 0.99 0.50 0.08 0.04May-08 0.08 0.08 0.00 0.00Jun-08 0.00 0.00 0.00 0.00TOTAL 1.07 0.10 0.08 0.01OtherJan-08 4.52 1.13 0.00 0.00Feb-08 0.03 0.03 0.00 0.00Mar-08 0.03 0.01 0.00 0.00Apr-08 0.02 0.01 0.00 0.00May-08 0.00 0.00 0.00 0.00Jun-08 0.05 0.02 0.00 0.00TOTAL 4.65 0.20 0.01 0.00Jan-08 Feb-08 Mar-08 Apr-08 May-08 Jun-08Market Capitalization (US$ millions) 206.69 206.29 224.63 242.90 252.62 278.21Index 0.00 0.00 0.00 0.00 0.00 0.00PRACTICES & PROCEDURESTradingDaysMonday-FridayHours 11:00-17:00Market segmentation Primary and secondary marketsSystemAutomated, depository link, data dissemination,reporting facilities, WANMechanismsSimple&double auctions, price fixingMarket-maker/Specialists NoInstrumentsStocks, bonds, optionsCurrencyLocalReal time information Last price, last volume, total volume, listed companyannouncementsClearing & SettlementCentral Depository YesPeriod T+5RegisteredYesSettlementPhysicallyClearingTransaction by transactionDVPYesClearing Institution YesRisk SharingNoMargin/LendingNo/yesCustodiansBanks and othersTaxesCash DividendsInterest IncomeCapital GainsStructure & RegulationsLegalRegulationSecurities marketregulationsTrading rulesSurveillanceCorporate actionsTrading halts regulationsInvestor protectionForeign ParticipationForeign investorsInvestment limitationsRepatriationN/AN/A30% local investorsNot-for-profit companySelfRegulatory institutions, theexchange and market participantsjointlyExchange, government institutionsNoCentralizedYesYesRestrictedNo limitationsNoPAGE 87
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