Bulgaria, Macedonia and Zagreb stock exchanges started an integration of securities markets project

Skopje, Sofia, Zagreb ‒ Bulgaria, Macedonia and Zagreb stock exchanges have established a joint stock company seated in Macedonia with the objective of creating a regional infrastructure for trading of securities listed on those three markets.

“We are considering for some time now options to improve the visibility and efficiency of our markets and this model of cooperation emerged as a logical solution. We are happy that European Bank for Reconstruction and Development is ready to support this project with donors’ funds they have available for projects that can develop market infrastructure. 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,” stated Ms. Ivana Gažić, President of the Management Board of the Zagreb Stock Exchange.

Mr. Ivan Steriev, CEO of the Macedonian Stock Exchange 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.”

“Attracting the interest of investors on a regional basis is something that we also strive for. Simplicity, efficiency and involvement of all parties is the guarantor of the success of this project.”, concluded Mr. Ivan Takev, CEO of Bulgarian Stock Exchange.

The next step in the project is to create a technical solution for order-routing, which is planned to be realized next year.