The Ukraine National Commission on Securities and Stock Market (NSSMC) presented its 2026–2027 priorities for developing domestic capital markets to members of the European Business Association, focusing on moving the market beyond its current concentration in government bonds. A concept aimed at broadening the range of exchange-traded instruments, improving liquidity and attracting new issuers has been prepared and shared with the business community for feedback. Key workstreams include liquidity generation and incentives for long-term investment, development of a “people’s IPO”, simplifying small and medium-sized business access to capital markets, and legislative harmonisation as part of European integration. The NSSMC also outlined preparation of a municipal bond market from 2027, continued work toward a second parliamentary reading of the virtual assets draft law with a tentative plan for legal market operation in 2027, and ongoing coordination with the National Bank of Ukraine, relevant parliamentary committee, the Ministry of Finance and the Ministry of Economy, alongside engagement with the IMF, World Bank, EU and EBRD. Further initiatives highlighted included introducing a funded pension system (third pillar) under an EU technical assistance project with phased implementation over 36 months, advancing a securitisation draft law planned to be submitted for consideration in the near future, updating depository system legislation, creating an infrastructure holding company for key market infrastructure elements, and developing exchange-traded funds (ETFs). The NSSMC and business representatives agreed to maintain a regular dialogue to support delivery of the agenda.

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