18 June 00:00
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Comments About New IT Infrustructure

Comments About New IT Infrustructure

The Minister of Finance and The President of NBG Expressed Their Ideas About the New GCSD IT Infrustructure: 
Koba Gvenetadze (Governor of NBG): "NBG pays a lot of attention to the capital market development. We invest in infrastructure, create new laws and update existing ones, spend a lot of effort on financial education. In 2010 we have implemented modern systems for securities and cash settlements at NBG. This was crucial for fast advancement of Government securities market in Georgia. This success story has convinced us to share the experience with the rest of capital market. Today we proudly announce that the new system is launched and since December 3rd transactions will settle there. It offers market participants entirely new opportunities. Brokerage companies can now trade both government and private securities and settle electronically in a fast and secure manner. The new state of the system, accompanied with other important reforms, will significantly accelerate the development of Georgian financial markets."

Ivane Machavariani (Minister of finance): "Capital market development is an important task and is treated with utmost priority by the Government. Georgia has a great potential, to become a regional financial center. With this project we've got securities post trade infrastructure reform, with joint efforts from public and private sectors. New modern system will attract more investors, as Georgian financial market becomes even more secure and convenient. Without exaggeration, it is a big milestone for capital markets. Let me extend my words of appreciation for National Bank and his staff for excellent accomplishment. Also express my gratitude for the private sector participants. I strongly believe this project sets a benchmark as an excellent example of successful public and private sector partnership."