Bulgarian bourse to trade foreign shares, state bondsStaff Writer | May 23, 2017
Bulgaria's small stock exchange plans to start trading shares of foreign companies later this year and will set up a secondary market to trade Bulgarian government bonds, aiming to boost liquidity and attract investment, its chief executive said.
Europe Bulgarian Stock Exchange
The bourse will set up a special board, BSE International, to trade the foreign shares, which will be denominated in euros and transactions will be cleared by Frankfurt-based Clearstream.
The bourse is also preparing to launch trades in Bulgaria's 3.2 billion euro ($3.6 billion) government securities issued on the local market by September, Golemanski said in an interview at the Reuters Central & Eastern Europe Investment Summit.
"This is the problem with our market - the liquidity is low. If we do not boost the liquidity and the trading volumes, we cannot expect to have a more developed market. This is the key to success," Golemanski said in the interview at the bourse's offices.
The Bulgarian exchange has a market capitalisation of just 9.3 billion levs ($5.3 billion).
Directly offering shares of Frankfurt-listed European and U.S. companies would boost volumes and cut the cost of trading these equities for Bulgarian institutional investors, Golemanski said. ■