PFTS Stock Exchange

Initially, there was the Association of Professional Participants in the Ukrainian Stock Market “OTC Stock Trading System” ( Ukrainian: Pozabirzhova Fondova Trading System , PFTS), which was formed at the end of 1995. In September 1998, the current name of the Association was adopted - “The First Stock Trading System” ( Ukrainian: Persha Fondova Trading System ) without changing the Ukrainian abbreviation PFTS .

Most Ukrainians would translate the word trading as Ukrainian. trade , not Ukrainian. trading . However, the correct option is Ukrainian. trading ^{[1] [2] [3] [4] [5] [6]} .

The PFTS Stock Exchange was a subsidiary of the PFTS Association, one of the largest self-regulatory organizations of professional participants in the Ukrainian securities market. In April 2008, it was decided to transform the subsidiary into the open joint-stock company PFTS Stock Exchange ^[7] .

1995

• October is the first meeting of the initiative group on the creation of the Association of Securities Traders and the electronic trading network “OTC Stock Trading System”.

1996

• July - the first trading on the PFTS.
• at the end of 1996, 64 companies and banks acquired membership in the PFTS Association.

1997

• February - The “Rules for compiling the ratings of issuers and securities traders in the PFTS” were adopted.
• June - Subsidiary “Technical Center“ PFTS ”” received from the State Commission on Securities and Stock Market of Ukraine the License of the trade-information system No. 1.
• July - The first issuer submits an application to list its shares on the PFTS listing .
• September - The first six issuers are included in PFTS level 1 listing.
• October - the daily calculation of the PFTS index on the basis of the weighted average price of ordinary shares of enterprises that have the highest liquidity ratios began. The PFTS index is the only Ukrainian stock index recognized by international financial organizations.
• October - PFTS Association receives the status of a “Self-Regulating Organization”.
• December - The State Property Fund of Ukraine first sold a state block of shares through the PFTS.
• at the end of 1997, PFTS trading volumes amounted to UAH 354.91 million, the PFTS index was 79.74 points. The PFTS Association numbered 193 companies and banks.

1998

• February - the institute of market makers was introduced at the PFTS. Market-maker: a bidder who has a special status in accordance with the “PFTS Trading Rules”.
• September - The new name of the Association is approved - “The First Stock Trading System” .
• at the end of 1998, PFTS trading volumes amounted to UAH 338.54 million, the PFTS index was 21.56 points. The PFTS Association numbered 294 companies and banks.

2000

• May - for the first time in the PFTS trading system, an initial public offering of shares is held .
• at the end of 2000, PFTS trading volumes amounted to UAH 1.463 billion, the PFTS index was 55.53 points. The PFTS Association totaled 197 companies and banks.

2001

• at the end of 2001, PFTS trading volumes amounted to UAH 6.29 billion, the PFTS index was 42.65 points.

2002

• November - PFTS listing includes shares of Ukrtelecom OJSC, the largest Ukrainian national telecommunications operator. According to the results of 2002, Ukrtelecom took the first place in the List of the twenty largest issuers by capitalization, whose securities are traded on the PFTS.

2004

• January - the rules for calculating the PFTS index have changed. Now the weighted average price of transactions concluded during the trading session is used, and blocks of shares that are in state ownership are not taken into account. The index began to reflect the dynamics of stock prices of enterprises of the "index basket", which are in free float on the market. The impact on the securities index of enterprises whose privatization has been completed has increased.
• March - PFTS began trading in government bonds issued to pay off state debt for the reimbursement of value added tax . The appearance of VAT bonds on the market became the main event of the Ukrainian debt market in 2004.
• April - increased requirements for shares in the PFTS listing: the market capitalization of shares should not be less than UAH 200 million, UAH 10 million. and 0.5 million UAH. for listing the first, second and third levels, respectively.
• At the end of 2004, the number of PFTS members was 149 investment companies and banks.

2005

• July - PFTS Stock Exchange OJSC was established.
• August - when calculating the PFTS index, only those shares that are freely traded on the stock market are taken into account (shares that are owned by the state, issuer, strategic investors, management and the labor collective, as well as cross-owned are not taken into account).
• August - increased requirements for listing securities on the PFTS: the size of the horizontal spread , the minimum and maximum lots, the minimum average monthly volume of transactions, the number of transactions, etc.
• October - PFTS became the first organizer of trading on the Ukrainian stock market, which established correspondent relations with the World Federation of Exchanges .
• At the end of 2005, the number of PFTS members amounted to 187 investment companies and banks.

2006

• June - by the decision of the PFTS General Meeting, the PFTS Technical Center Subsidiary was renamed the PFTS Stock Exchange Subsidiary.
• July - to increase market liquidity, requirements are established for the size of the vertical spread , within which it is permissible to conclude transactions, the sizes of maximum and minimum lots are established .
• August - the “index basket” of the PFTS index was expanded at the expense of OJSC Poltava Mining Plant and OJSC Sumy Machine-Building NGO named after Frunze. "
• August - an agreement was signed to broadcast PFTS trading at Bloomberg terminals.
• at the end of 2006, PFTS trading volumes amounted to UAH 27.62 billion, the PFTS index was 498.86 points, the number of PFTS members was 214 investment companies and banks.

2007

• January - PFTS Stock Exchange became a member of the International Association of CIS Exchanges.
• August - PFTS index reached the level of 1000.

2008

• February - the PFTS index expanded its “index basket” by the enterprises of Avdeevsky Coke and Chemical Plant OJSC and Enakievsky Metallurgical Plant OJSC. ^[eight]
• April - at a general meeting of members of the PFTS Association, a decision was made to reorganize the PFTS Stock Exchange subsidiary into the PFTS Stock Exchange open joint stock company in the third quarter of 2008. 100% of the shares are owned by the PFTS Association. ^[7]
• May - the PFTS Index Committee temporarily excluded shares of Interpipe Nizhnedneprovsky Pipe Plant OJSC from the PFTS index basket. This decision of the committee is valid until the registration of the additional issue of shares of the enterprise by the State Commission on Securities and Stock Market of Ukraine. ^[9]
• December - PFTS index fell to 300 points

2009

• April - the official launch of the new trading system PFTS NEXT. The trading system was implemented as part of the MICEX-NASDAQ OMX-PFTS Ukrainian Project: the server part of the trading system was implemented on the NASDAQ OMX technology, the client part using the solutions of the MICEX group.
• June - the first transactions with Eurobonds were concluded on the PFTS Stock Exchange using the new PFTS NEXT trading system. The amount of transactions amounted to 1,590,281 UAH.
• August - the list of Thomson Reuters information and analytical products that contain PFTS trade information has been expanded.
• September - in the PFTS NEXT trading system, the first exchange-traded REPO operation with government securities in the amount of UAH 10 million was carried out.
• October - PFTS Index includes shares of the Yasinovsky Coke and Chemical Plant. In turn, the shares of the Mariupol Metallurgical Plant named after Ilyich.
• November - The PFTS Association Council decided to hold an extraordinary meeting of the Association's members to consider attracting a strategic investor to the exchange.
• December - The general meeting of PFTS Association participants decided to increase the authorized capital of PFTS Stock Exchange OJSC and to sell additional shares of the Moscow Interbank Currency Exchange (MICEX; since 2011, the Moscow Exchange) as a strategic investor.
• In 2009, the PFTS Index grew by 90%, to the level of 572 basis points.

2010

• January - The State Commission on Securities and Stock Market of Ukraine registered an additional issue of shares of PFTS Stock Exchange OJSC.
• May - the repurchase procedure for 1,601 shares of additional issue with a nominal value of UAH 16.01 million was completed. Its result was the involvement of the MICEX as a strategic investor and $ 10 million (about UAH 80 million) in the authorized capital of PFTS Stock Exchange OJSC.
• July - a general meeting of shareholders of the PFTS exchange was held, during which a new composition of the Supervisory Board of the exchange was elected. In order to bring it into compliance with the requirements of the Law on Joint Stock Companies, the legal form of ownership of the exchange was changed from an Open Joint Stock Company to a Private Joint Stock Company.
• August - Members of the PFTS Exchange Supervisory Board supported Alexander Sklyarov as Chairman of the Exchange Board. The Board also included Igor Seletsky and Bogdan Lupiy.
• In 2010, the PFTS Index grew by more than 70%, up to 975 basis points.

2011

• January - based on PFTS technical support, it launches a new version of the PFTS Bridge gateway - a software interface for connecting external systems to the PFTS NEXT trading system.
• February - the exchange holds the conference “Taxation of private investors for 2010 - an algorithm for the transition to new rules."
• March - trading on the PFTS Stock Exchange began using the Central Exchange Counterparty LLC. The central counterparty acts as an intermediary in transactions on the application market, ensuring the anonymity of the parties to the transaction, as well as avoiding the prohibition on entering into transactions between clients of one broker.
• April - The general meeting of shareholders of the PFTS exchange decided to change the legal form of ownership from a Private Joint-Stock Company to a Public Joint-Stock Company.
• May - a decision was made to extend the trading session on the PFTS stock exchange from 17.00 to 17.45.
• August - PFTS exchange simplified the process of registering customers and assigning them an identifier for settlements to participate in the auction. Directly, the form of an individual application for registration of accounts on which operations will be carried out was reduced.
• In 2011, the PFTS Index fell 45% to 534 basis points.

2012

• March - transactions with government bonds with preliminary blocking of assets were concluded in the PFTS NEXT trading system. One of the first participants in these operations was the National Bank of Ukraine .
• May - changes to the "Regulation on Depository Activities" of the NBU came into force.
• July - the procedure for denominating PFTS exchange shares was completed (from 10 thousand UAH to 1 thousand UAH). The number of shares increased proportionally - 10 times.
• August - a meeting of the Exchange Supervisory Board was held, as a result of which Igor Seletsky was appointed to. and. about. Chairman of the board.
• August - for the first time in Ukraine at the PFTS trades in government securities were held on the terms of guaranteed settlements using netting and a central counterparty . The volume of operations on the first day amounted to 9.1 million UAH.
• October - the institute of market-making in the government bonds market is introduced at the PFTS exchange. The first market maker was Erste Bank.
• In 2012, the PFTS Index fell by 39%, to the level of 328 basis points.

2013

• February - The PFTS Supervisory Board unanimously supported the candidacy of Igor Seletsky for the position of Chairman of the Exchange Board.
• August - The Exchange Supervisory Board approved the new version of the Rules of PFTS Stock Exchange PJSC and the Rules for the calculation of the PFTS Index.
• October - PFTS exchange participants got the opportunity to make deals on the quotes market on the terms of guaranteed settlements.
• November - the list of PFTS instruments expanded by certificates of deposit of the National Bank of Ukraine.
• December - The PFTS Supervisory Board amended the Exchange Trading Rules, securing the possibility of trading in the derivatives market section.
• In 2013, the PFTS Index decreased by 8%, to 300 basis points.

2014

• February - The National Commission for Securities and Stock Market registered the standard forms of the futures contract on the PFTS Index and the option on the futures contract on the PFTS Index.
• May - Igor Seletsky, Chairman of the PFTS Exchange Board of Directors and Pavel Kozak, Chairman of the Council of NGO “AC&A Ukraine”, signed a memorandum of understanding and cooperation between the two organizations.
• August - the first transactions since the implementation of the depositary reform were carried out on the PFTS exchange in the section of unilateral auctions in the secondary market.
• December - PFTS Stock Exchange was the first in Ukraine to receive the consent of the National Bank of Ukraine to launch a currency futures.
• December - PFTS became the winner of a tender to determine the stock exchanges on which bonds of international financial organizations can be publicly placed.
• In 2014, the PFTS Index grew by 30% to 386 basis points.

2015

• January - The National Securities and Stock Market Commission registered changes to the Rules of PFTS Stock Exchange PJSC, which allowed the exchange to enter into derivatives trading.
• March - the Board of PFTS Stock Exchange PJSC approved changes to the PFTS General Trading Agreement, thanks to which exchange trading participants were able to make changes or terminate contracts directly in the trading system.
• April - the general meeting of shareholders of PFTS Stock Exchange PJSC re-elected members of the Exchange’s Supervisory Board. Alexey Tarasenko was elected Chairman of the Council.
• June - PFTS Stock Exchange PJSC took part in the general meeting of PA "Ukraine-Ukraine" as an information partner. The event was attended by about 100 representatives of banks, companies, associations and government agencies.
• July - The National Bank of Ukraine has expanded the number of securities trading organizers to whom the NBU can send applications. Thus, PFTS Stock Exchange PJSC joined the conclusion of agreements by the National Bank of Ukraine.
• August - as part of the work to identify securities that do not meet high corporate requirements, PFTS Stock Exchange PJSC stopped the circulation of more than 150 issues of securities, the total capitalization of which exceeds UAH 50 billion.
• November - participants in PFTS Stock Exchange PJSC got the opportunity to conduct transactions in the interests of the issuer of securities on the basis of the DVP principle.
• December - the state derivatives (VRIUA) are included in the stock exchange list of PFTS Stock Exchange PJSC.
• In 2015, the value of the PFTS index decreased by 37.8%, to the level of 240.7 basis points.

2016

• January - The Licensing Expert Council under the State Regulatory Service of Ukraine overturned the decision of the National Securities and Stock Market Commission to revoke the license for the exchange. Soon, the NKTSBFR itself canceled its own decision.
• February - Moscow Exchange completely withdrawn from the equity capital of PFTS Stock Exchange PJSC.
• April - the general meeting of shareholders of PFTS Stock Exchange PJSC elected a new composition of the Exchange Supervisory Board. The Supervisory Board is headed by Oleg Mozgovoy.
• May - PFTS Stock Exchange PJSC was elected as the organizer of tenders for public offerings of bonds of international organizations (MFIs).
• in 2016 the value of the PFTS index increased by 10.15%, to the level of 265.15 basis points.

2017

• March - in order to deepen cooperation with professional associations of capital markets of Ukraine, PFTS Stock Exchange PJSC signed a memorandum of understanding and cooperation with the Public Organization Ukrainian Issuers.
• March - in the framework of cooperation with PJSC Settlement Center for Serving Contracts in Financial Markets, a new service was introduced for participants of PFTS Stock Exchange PJSC - clearing participants' clients (legal entities) were able to directly open current / correspondent accounts in the Settlement Center for carrying out exchange operations with securities. The new service allowed reducing cash flow for the client of the clearing member and avoiding the need to open a limit on the clearing member.
• August - as part of the privatization at PFTS Stock Exchange PJSC, blocking blocks of shares of PJSC DTEK Dneprooblenergo, PJSC Dneprenergo, PJSC DTEK Zakhidenergo and PJSC Kyivenergo were sold. As a result of the auction, over 2,808 million UAH were transferred to the state budget.
• October - the first auction on price reduction technology (the so-called “Dutch auction”) took place at PFTS Stock Exchange PJSC.
• in 2017, the value of the PFTS Index increased by 18.82% to the level of 315.05 points.

2018

• February - the first deals with bonds of Ukrposhta OJSC were concluded.
• June - PFTS successfully placed bonds of the Lviv City Council for a total of 440 million UAH.
• August - Cbonds news agency began publishing real-time quotes of bonds of domestic government loan of Ukraine on the PFTS exchange.
• September - PFTS successfully placed bonds of the Ivano-Frankivsk City Council in the amount of 300 million UAH.
• October - the name of the exchange was changed to PFTS Stock Exchange.
• By 2018, the value of the PFTS index increased by 75% (to 552 points). Thus, the PFTS Index took first place among other organizers of the world's trading, according to a CNBC study.

• PFTS Index
• Ukrainian stock exchange
• Ukrainian exchange

• pfts.ua - official site of the PFTS Stock Exchange (in Ukrainian )