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Moldova’s National Commission for Financial Markets (NCFM) Develops New Database System

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Chisinau, Moldova - The National Commission for Financial Markets (NCFM) is set to revolutionize the country’s securities market with a new database system that will provide a daily backup of all corporate securities from independent registrars once the law is passed.

Background

The NCFM has been working tirelessly to develop the new system, which aims to streamline the process of registering and trading securities. The commission has also received technical assistance from international organizations such as the International Monetary Fund (IMF) and World Bank.

Benefits of the New System

According to sources within the NCFM, the new database system will provide a secure and efficient platform for tracking and monitoring corporate securities. This will enable investors to make more informed decisions and reduce the risk of financial losses.

Modernization Efforts

The development of the new database system is part of Moldova’s efforts to modernize its financial infrastructure and align with international best practices. The country has been working to establish a single central securities depository (CSD) to consolidate and simplify the registration and trading of securities.

In related news, the National Bank of Moldova (NBM), Ministry of Finance (MOF), and Chisinau Stock Exchange (MSE) are set to launch a new initiative that will allow government bonds to be traded on the MSE. This is expected to start in April 2014 and will provide investors with a new asset class to diversify their portfolios.

Details of Government Bond Trading

The NBM, MOF, and MSE have been working together to develop a system that will enable the trading of government bonds with maturities over one year on the MSE. The bonds will be settled in real-time based on the Delivery versus Payment (DVP) Model 1 in the Automated Interbank Settlement System (AIPS).

Impact on Moldova’s Financial Markets

The development of the new database system and the launch of government bond trading on the MSE are expected to have a significant impact on Moldova’s financial markets. They will provide investors with greater access to information, improve market efficiency, and increase confidence in the country’s financial system.

Main Issues at Stake

The effectiveness of Moldova’s oversight and supervision framework is another key issue that has been identified by international organizations.
The NBM oversees the AIPS and BES, while the NCFM regulates the National Securities Depository (NSD). However, there are concerns about the clarity of the NBM’s involvement in other types of financial market infrastructures.

Conclusion

In conclusion, the development of a new database system by the NCFM is expected to have a significant impact on Moldova’s financial markets. It will provide investors with greater access to information, improve market efficiency, and increase confidence in the country’s financial system. The launch of government bond trading on the MSE is also expected to provide investors with a new asset class to diversify their portfolios.