News and Press

Azerbaijan Modernizes Their Capital Markets Infrastructure with Montran

April 5, 2023

The NDC in Azerbaijan launches CEDAR, their new Central Securities Depository solution, and BSE launches BETP, their new Trading System, via Montran’s state-of-the-art solutions

Baku, Azerbaijan / April 5, 2023 / PRNewswire / – The National Depository Center (NDC) of the Republic of Azerbaijan, The Baku Stock Exchange (BSE), and Montran announced the successful implementation of “CEDAR”, NDC’s Central Securities Depository (CSD) platform, and “BETP”, BSE’s Trading System. These new platforms mark an important landmark in the modernization of the Azerbaijani Capital Markets Infrastructure, providing the country with state-of-the-art solutions for sustainable securities market management.

The new CEDAR platform allows NDC to efficiently manage the complete lifecycle of dematerialized securities, including registration, primary and secondary market clearing, settlement, and corporate actions processing. It is built with best practices and complete support for straight-through-processing (STP) using ISO 20022 messages. Additionally, NDC also launched their new Investor Portal platform, which provides access to individual and corporate investors directly to monitor their accounts, transactions and enter operations.

BETP, the new trading system of BSE, enables real-time trading of dematerialized securities and repurchase agreements using orders and negotiations. BETP opens new opportunities for BSE members by providing integration capabilities using FIX protocol and APIs to perform trading activities and obtain market data.

According to Mr. Adishirin Gasimov, Chairman of the Executive Board of NDC, “the successful implementation of these new platforms is a major milestone in upgrading the Capital Markets Infrastructure in Azerbaijan.”

Mr. Eldar Abdullayev, Acting Chairman of the Management Board of BSE, added that “BETP opens up more new opportunities for BSE members and their clients to conduct trading activities and obtain market data.”

“The Central Securities Depository, Trading System, and Investor Portal products allow a robust and fully integrated solution for the complete Capital Markets ecosystem in Azerbaijan. Montran is confident these modern platforms will bring efficiency and allow a fast and streamlined integration for all stakeholders,” said Ms. Raegan Esca, Montran Europe General Manager.

About The National Depository Center of the Republic of Azerbaijan

The National Depository Centre (NDC) is a non-profit legal entity established by the financial market supervision authority of the Republic of Azerbaijan. The main purpose of NDC is the organization and coordination of the depository system that engages in safekeeping of securities, keeping records of ownership rights and other ones, as well as registering securities transactions. More information can be found at

About The Baku Stock Exchange CJSC

The Baku Stock Exchange is the only stock exchange in Azerbaijan, trading short- and long-term bonds, common stocks, corporate and government securities, REPO operations.  More information can be found at

About Montran

Montran is the leading provider of Payment and Securities Market Infrastructure solutions and services for many of the world’s foremost financial institutions, with mission critical installations and operations in over 80 countries.  More information can be found at

Source Montran