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Macedonian, Bulgarian and Croatian stock exchanges to connect through SEE Link platform

Xinhua, March 29, 2016 Adjust font size:

Macedonian, Bulgarian and Croatian Stock Exchanges annonced on Tuesday that the three bourses will route trading orders through the SEE Link platform.

The announcement was made here at an event to mark the 20th anniversary of the founding of the Macedonian Stock Exchange.

The SEE Link platform is an electronic system for order routing of almost 400 stocks listed on the three exchanges. The platform is funded with an European Bank for Reconstruction and Development (ERBD) grant of 540,000 euro (about 605,000 U.S. dollars), with the three stock exchanges having ownership stake of 80,000 euros in total.

Andre Kuusvek, Director for Local Currency and Capital Markets at the EBRD, said "the new platform was significant for several reasons, but first and foremost, it allows capital markets and regional integration of bourses to be developed further."

The platform lays the foundation for regional infrastructure of order­-routing, according to the Macedonian Stock Exchange, one of the initiators of the project.

"In the medium-­term, we expect it to have a positive impact on the increase in turnover of all the local bourses. It will also help open new channels to Macedonian investors for business prospects, i.e. ways to invest in foreign securities." said Ivan Steriev, CEO of the Macedonian Stock Exchange.

Ivan Takev of the Bulgarian Stock Exchange said the new platform would allow the three stock exchanges to prosper from small into large markets.

The CEO of Zagreb Stock Exchange in Croatia said he believed "the platform will secure a better future for capital markets." Endit