On December 4, the Belgrade Stock Exchange (BELEX) became an active member of the SEE Link network, a regional network of stock exchanges where stocks listed in Bulgarian, Croatian and Macedonian stock exchanges are traded, and which already contains ten of the most traded companies in the region.
As stated in the report by BELEX, trading through the platform has been made possible in the local capital market as well.
The director of BELEX, Sinisa Krneta, stated that, this way, the Belgrade Stock Exchange strove to make the national and the regional capital markets complementary segments for financing the development of the private sector.
Following the joining of BELEX, the SEE Link system for order routing now supports trading in four markets, with a total market capitalization of USD 33 billion and nearly 500 traded stocks.
In addition to the Belgrade Stock Exchange, the stock exchanges in Athens, Banja Luka, Ljubljana and Montenegro are preparing for inclusion in SEE Link, and several other stock exchanges in the region are interested as well.
A total of 27 investment companies (brokerage firms) are licensed for trading through SEE Link. In addition to them, an additional 7 members of BELEX are currently in the process of acquiring licenses for trading through the SEE Link platform.
The system aims to increase the liquidity and improve market access for investors and local brokers. Due to the inclusion of a new market, an index revision is planned for the period to come, in order for the indicators to provide a more representative overview of the market.
The SEE Link project was initiated by stock exchanges from Bulgaria, Croatia and Macedonia, with the aim of creating a regional infrastructure for trading in stocks listed in the three stock exchanges.
The cooperation was formalized by the foundation of the SEE Link company in May 2014, headquartered in Skopje. The European Bank for Reconstruction and Development (EBRD) supported the initial phase of the SEE Link project by providing a grant of EUR 540,000 in order to enable the electronic system of order routing in July 2014. The financing of the project was secured by the EBRD donors through the EBRD Shareholder Special Fund, whereas the stock exchanges participated with EUR 80,000 each.
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