OREANDA-NEWS. On 28 August 2009 the National Bank of Ukraine published an order dated August 12 that paves the way for foreign exchange forward transactions to be concluded by Ukrainian banks as of October 26. The NBU banned forward currency transactions in April as part of its measures to stabilize the hryvnya. Only banks that do not violate open F/X position limits will be allowed to conclude forward transactions. Forward transactions had been allowed in Ukraine since 2005, but were not widely used as the NBU capped the amount of transactions at no more than 10% of the bank’s regulatory capital.

Concorde Capital: This is definitely a positive step from the NBU, although it is too early to judge about how effective it will be. When forward transactions on the domestic FX market were allowed, their volumes were quite small because of regulatory limitations and the underdeveloped nature of the domestic financial market in general.

Concorde Capital is a full service investment bank operating on the Ukrainian, Russian and CIS markets. In 2007 Concorde Capital’s analytical team was recognized as the Top Team covering Ukraine by Thomson Extel's Pan European Survey. Senior Analyst Alexander Paraschiy was recognized as the Leading Pan-European Investment Analyst – European Emerging Markets. Concorde Capital is a leader when it comes to private placements and M&A deals. Concorde Capital’s sale of a stake in Electron Bank to Volksbank International AG was named the Best Ukrainian M&A deal of the year 2007 by the Adam Smith Institute.