Financial Regulator Asks Sofia Bourse to Elaborate on Plan to Operate MTF

Financial Regulator Asks Sofia Bourse to Elaborate on Plan to Operate MTF

Bulgaria's financial regulator said it has asked the country's stock exchange to provide further information regarding its request to operate a multilateral trading facility (MTF) that would serve as a growth market for small and medium sized enterprises (SMEs).The Financial Supervision Commission provided no further details in its announcement published on Tuesday. This is the second time the financial regulator has asked the Sofia bourse to provide additional information regarding the MTF.MTFs are self-regulated financial trading venues which serve as an alternative to traditional regulated markets on stock exchanges. In February, Bulgaria's parliament approved changes to the Markets in Financial Instruments Act, which include the opportunity to establish a so-called growth market. According to the act, a growth market is an MTF on which at least 50% of the listed issuers are SMEs.

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