Second study visit of the NSSMC to BaFin: cooperation for sustainable development of the stock market

From 2 to 8 April 2025, the second study visit of the delegation of the National Securities and Stock Market Commission to the Federal Financial Supervisory Authority (BaFin) took place. This trip was a continuation of the inter-institutional dialogue that began in 2024.

The goal is to exchange experience on current challenges, technological innovations and best practices of regulators.

The partnership with BaFin is of strategic importance for Ukraine, said Commissioner Arsen Ilin:
‘Ukraine and Germany continue to actively exchange experience. The German financial market is mature and well-structured, while Ukraine demonstrates a high pace of implementation of innovative technologies that are only gaining momentum in Europe. This bilateral exchange of practices contributes to strengthening the joint capacity to combat financial abuse and create a stable, transparent environment for investors.’

This year, the focus was on electronic securities, in particular in the context of the development and implementation of digital financial infrastructure. They also discussed the possibilities of using distributed ledger technologies (DLT) in the processes of issuing, storing and circulating securities. This approach opens up prospects for increasing market transparency and creates favourable conditions for attracting new investors.

Since the entry into force of Law No. 3585-IX on State Regulation of Capital Markets and Organised Commodity Markets, the NSSMC has been actively moving towards alignment with the principles of the International Organisation of Securities Commissions (IOSCO). In particular, the process of joining the IOSCO Multilateral Memorandum of Understanding has begun, which will provide much more opportunities, including for expanding cooperation with BaFin.