Tbilisi (GBC) – BMatch has published digital trade regulations that will come into force on October 1 

To get switched into the trading system, a commercial bank or a microfinance organization should apply to the Bloomberg system (www.bloomberg.com/professional/). Having bought the terminal, the companies will get dealing and brokerage codes on BMatch, with the consent of the National Bank of Georgia (NBG).

Only the NBG-licensed commercial banks and brokerage companies are authorized to trade and provide trade tasks for clients through dealing codes. MFOs are not authorized to fulfill cashless payments.

The annual penalty for delayed national currency payment equals  to the TIBR rate of the payment day + 5%; in case of delayed foreign currency, the amount is overnight benchmark percent +5%; if the amount cannot be determined in the corresponding foreign currency, then the amount will equal to the refinance loan rate +5%.

The fine for violation of the deal payment timeframe is 5% of the total amount. The NBG is authorized to unilaterally suspend or terminate BMatch access to the system player.