The stock exchanges of Bulgaria, FYROM and Croatia have set up a joint stock company to create an integrated infrastructure for trading of securities listed on these markets, the Bulgarian Stock Exchange-Sofia (BSE) said.
The project is supported by the European Bank for Reconstruction and Development (EBRD), BSE said in a press release.
“We are happy that EBRD is ready to support this project with donors’ funds they have available for projects that can develop market infrastructure,” Ivana Gazic, president of the management board of the Zagreb bourse said, as quoted in the BSE statement.
“We believe that signing of first grant agreement should be finalized in the next couple of weeks and we are close to the final agreement,” she added.
The next step in the project is to create a technical solution for order-routing, which is planned to be realized next year, the statement added.
“This collaboration will enable investors to reach the markets in a simpler way and we hope that other regional exchanges will join the project in the future,” the CEO of the Skopje bourse, Ivan Steriev, said in the statement.
“Simplicity, efficiency and involvement of all parties is the guarantor of the success of this project,” Ivan Takev, CEO of the Bulgarian Stock Exchange, commented.