DUSHANBE, October 27, 2014, Asia-Plus – The board (Shuro) of Tajikistan’s lower house (Majlisi Namoyandagon) of parliament discussed draft laws on export control and international commercial arbitration at an October 27 meeting, presided over by its head, Shukurjon Zuhurov.

Muhammadato Sultonov, a spokesman for the Majlisi Namoyandagon, says the board also discussed amendments proposed to the country’s laws on state fingerprint registration, export and import of objects of cultural value, specially preserved natural areas, environmental protection, advertisement, elections to local councils (Majlis), and the national budget for 2014.

The board also discussed issues related to ratification of an agreement between Tajikistan and Bahrain on the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income.

The Majlisi Namoyandagon board members also made a decision to set up a working group to draft the law on etrading, Sultonov said.

Electronic trading, sometimes called etrading, is a method of trading securities (such as stocks, and bonds), foreign exchange or financial derivatives electronically. Information technology is used to bring together buyers and sellers through an electronic trading platform and network to create virtual market places such as NASDAQ, NYSE Arca and Globex which are also known as electronic communication networks (ECNs).  Electronic trading is rapidly replacing human trading in global securities markets.

One of the earliest examples of widespread electronic trading was on Globex, the CME Group’s electronic trading platform conceived in 1987 and launched fully in 1992.  This allowed access to a variety of financial markets such as treasuries, foreign exchange and commodities.

By 2011 investment firms on both the buy side and sell side were increasing their spending on technology for electronic trading.  With the result that many floor traders and brokers were removed from the trading process.

The next sitting of the fifth session of the Majlisi Namoyandagon session of the fourth convocation will take place on October 29, Sultonov said.