The Ukraine National Commission on Securities and Stock Market said its delegation, led by Chairman Oleksii Semeniuk, met Spain's exchange operator BME in Madrid to discuss how Ukrainian companies could access the European capital market. The main outcome was a set of practical follow-up steps: BME confirmed in-principle readiness to consider dual listings of Ukrainian companies, agreed to appoint a contact person to advise on listing requirements across its market segments, and opened the way for technical cooperation on clearing and settlement infrastructure. The discussions focused particularly on Ukrainian issuers in the agriculture and defense technology sectors. Any dual listing would depend on resolving technical issues, including a currency bridge for euro quotations and compatibility between the two markets' post-trade systems. BME also offered to share expertise from BME Clearing and Iberclear to support Ukraine's work on accounting for securitization instruments. The Commission linked the talks to Ukraine's recent signing of the IOSCO Multilateral Memorandum of Understanding, which it said provides for a gradual removal of restrictions on Ukrainian companies' access to international capital markets, and to its domestic work on securitization and virtual assets regulation. The next step is for both sides to agree priority areas for cooperation, ranging from preparing Ukrainian issuers for BME listings to exchanges on clearing, depository accounting and virtual assets regulation. A separate online session is planned to develop a more detailed roadmap, with a bilateral memorandum identified as a possible later outcome.

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