Georgia aims to establish joint team with Nasdaq to boost domestic market liquidity, says NBG official

“Financial markets are experiencing rapid growth, and the National Bank’s objective is to facilitate this process technologically and regulatorily, reinforce relationships with international partners, and further accelerate the current positive dynamics,” stated Aleksandre Khazaradze, Head of the Financial Markets Department at the National Bank of Georgia (NBG), speaking at the GMAP Market Development Forum.

A two-day international event, titled the GMAP Market Development Forum 2026, was held in Tbilisi, organised by the National Bank of Georgia (NBG) and the Georgian Financial Markets Treasuries Association (GFMTA), in partnership with Nasdaq.

According to the NBG, the Georgia Market Development Programme (GMAP) concept was presented to the public during the forum. GMAP aims to enhance the availability of risk management and hedging instruments across Georgian financial markets, fostering a more liquid and internationally accessible securities market. Implementing modern treasury infrastructure plays a critical role in achieving this goal alongside other initiatives. This upgrade will empower local commercial banks to provide the market with more accessible and diversified risk-hedging instruments.

“In collaboration with Nasdaq and other international partners, we wish to create a joint team that will focus on increasing and deepening the liquidity of Georgian financial markets. This is precisely the purpose of today’s event, which will be held twice a year and will acquire immense significance in the development of Georgia’s financial markets,” noted Aleksandre Khazaradze.

He further assessed that the success of the Georgia Market Development Programme depends on cooperation between the private and public sectors, as well as the implementation of technological solutions and systems. According to Khazaradze, any financial transaction carries inherent risks, and these risks must be managed, measured, constrained by limits, and provided with mechanisms for risk transformation; something that is impossible in modern finance without technology.

“Within the framework of the shared treasury management system implementation project, banks will conduct treasury operations on the Nasdaq Calypso platform, which covers the complete lifecycle of treasury transactions. The shared system serves as a practical tool that enables the Georgian banking sector to develop the capabilities required to achieve the market development goals set out under GMAP, managing large-scale risks in a manner that protects their businesses while providing clients with hedging instruments at preferential rates,” stated Aleksandre Khazaradze.