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Single bank collateral exchange starts operating in Ukraine

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A specialized "Bank Collateral Exchange" market for trading confiscated, collateral assets and other types of assets has been created on the Ukrainian Universal Exchange (Kyiv), reads an exchange press release.

According to the report, the exchange has agreed with large banks on the sale of collateral assets on its own market: offers worth several billions of hryvnias were made for the first trading session on the Bank Collateral Exchange.

"The banking sector has accumulated a large number of unsold assets starting from households, cars and ending the land plots, houses and apartments… The task of our exchange is to create a liquid and highly competitive market environment, where traders will be able to find the optimal conditions for signing deals," the exchange’s press service said, citing the head of the trading department at the Ukrainian Universal Exchange, Serhiy Hladky.

Participation in trading will be free of charge.

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