On November 17, 2015, the National Securities Commission of Azerbaijan decided to cancel the license of the Ukrainian Exchange due to the presence in the capital of this site of the resident of the aggressor country. On the agenda of the evening session of the Commission, the question of revoking the license was the last, under the number 16-17.
The National Securities Commission provided documentary evidence that PJSC “Ukrainian Exchange” is controlled by persons from other states that carry out armed aggression against Ukraine.
The regulator requested information from the stock exchange about its owners, and it turned out that 22.44% of shares of the Ukrainian Exchange are the property of OJSC “Moscow stock exchange MICEX-RTS” (Russia). Another 20.64% belong to the Ukrainian Exchange Holding, which is also wholly owned by the Moscow Stock Exchange.
These facts and became the reason that “Ukrainian Exchange” lost its license to carry out activities in the stock market.

Potential buyers of securities of the Ukrainian Exchange, owned by Russian companies Univer Capital and Dragon Capital, informed the National Securities and Stock Market Bank of their desire to buy back these stakes.
The regulator’s statement says that the Commission waited six weeks from the Ukrainian Exchange to change its owners’ structure, but nothing has changed. The decision made in respect of the Exchange will come into force after 30 days, although it may be appealed to the Licensing Appeal Board at the State Regulatory Service, as well as to the courts.

According to Timur Khromayev, representative of the National Securities and Stock Market Commission, the law on licensing is the same for all market participants, therefore, the Ukrainian Exchange was given time to correct the situation, but no progress was made in this direction. Now the stock market is developing in the direction of reboot and compliance with international standards.

It is already known that UniCapital signed an agreement to purchase 23% of the Ukrainian Exchange from the Moscow Stock Exchange, and then Dragon Capital also announced the purchase of a 20% stake, but within a few hours the deal was frozen.