The securitized derivatives, the certificates are special instruments issued
by the banks, where the possible underlying assets are securities, indices, FX
products, commodities, derivatives or any kind of combinations of these products.
The liquidity of certificates is assured by the continuous market making. The
market maker assumes to keep the order volume with the determined spread in the
order book on both bid and offer side, as set out in the market maker agreement.
The BSE monitors and publishes the performance of certificate market makers every