The National Commission for Securities and the Stock Market supports legislative changes that provide for attracting a strategic foreign investor to the infrastructure of Ukrainian capital markets.
This is reported by the press service of the NSSMC.
The corresponding draft law No. 16038-d dated October 22, 2026, provides for the consolidation of this infrastructure into a single group headed by a holding company.
The conditions of activity of the holding company and the structure of its capital will be determined directly by law. The Commission approved its position on the draft law at its meeting on November 5 and sent it to the Verkhovna Rada of Ukraine Committee on Finance, Tax and Customs Policy.
What guarantees does the draft law provide
The document provides guarantees for protecting the state's interests, National Bank control over the Central Depository, and equal access of market participants to the infrastructure. The strategic investor must be selected through an open competition.
The state will own 25% of the holding company's shares plus one share. Such a stake will make it possible to retain influence over key decision-making.
In addition, without the state's consent, it will be impossible to change the group's tariff policy or sell the investor's shares. Professional market participants and banks will be able to become co-owners of the holding company by purchasing its shares.
The technology platform and databases will remain in Ukraine regardless of the investor's future fate. This will allow attracting an international partner under clear rules, preserving the main guarantees for the state and the market.
What the NSSMC will do after the law is adopted
If the Verkhovna Rada of Ukraine adopts the draft law, the Commission must develop rules for its implementation. In particular, this concerns maintaining a register of holding companies, verifying foreign companies that apply to participate in the competition, and approving the acquisition or increase of a significant stake in a holding company.
In addition, the Commission will establish standards for connection and data exchange, rules for disclosing information about intra-group transactions, and, together with the National Bank, will determine the procedure for interaction in the supervision of the new infrastructure.