Bistra Ilkova CEO Bulgarian Stock Exchange – Sofia Sofia

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Presentation transcript:

Bistra Ilkova CEO Bulgarian Stock Exchange – Sofia Sofia 16.09.2008 The Prospects for Capital Markets in Southeast Europe Conference The Bulgarian Stock Exchange After the EU Accession: Recent Developments, New Products and Services Bistra Ilkova CEO Bulgarian Stock Exchange – Sofia Sofia 16.09.2008

Legislation Harmonization The Prospects for Capital Markets in Southeast Europe Conference Jan. 1, 2007 – THE EU ACCESSION Legislation Harmonization Single passport notification process for investment intermediaries and management companies; Unified and simplified procedure for admission to trading of foreign companies on the Bulgarian regulated market; Transparency Directive and price-sensitive information disclosure; Market on Financial Instruments Act

CAPITAL MARKET POPULARIZATION The Prospects for Capital Markets in Southeast Europe Conference CAPITAL MARKET POPULARIZATION Realization of the benefits of the public status and accepting the capital market as an alternative source of financing the business; Increasing the quality of the corporate governance; Increasing role of the Stock Exchange in the area of the financial intermediation; Public oriented communication strategy Active dialog with the investment society and the local business; Active dialog with the international institution and European exchanges. In 2007 BSE-Sofia was awarded the Mr/Mrs. Economy prize in the top category “Overall Contribution to the Development of the National Economy”

Market capitalization (BSE-Sofia) / GDP The Prospects for Capital Markets in Southeast Europe Conference MARKET STATISTICS Semi-annual Raised capital (face value, EUR mln.) New listings 2006 2007 June 2008 Shares 105.615 266.81 57.05 REITs & SPVs 5.78 21.01 4.14 Bonds 194.72 229.19 94.85 Capital increase 46.88 48.94 10.07 129.66 37.73 21.13 Market capitalization (BSE-Sofia) / GDP 2005 2006 2007 30.06.2008 19.71% 31.20% 55.46% 34.45% 47 new issues admitted to trading for Q1 2008

TECHNOLOGY & INNOVATIONS The Prospects for Capital Markets in Southeast Europe Conference TECHNOLOGY & INNOVATIONS Start of the new trading platform – XETRA (16.06.2008) X3News – a specialized financial media through which the public companies and the other issuers of securities can fulfill their legal obligations for disclosure of regulated information. (January 2008) X3Analyses - financial analyses application (March 2008) BG TR 30, BG REIT (September 2007) Client Order-Book Online System (COBOS) – internet - based application for secure access to the BSE Trading System (Xetra ) in real time that allows BSE- members' clients to enter orders and to make transactions after receipt of confirmation from their broker. (March 2003)

MAIN STRATEGIC PRIORITIES The Prospects for Capital Markets in Southeast Europe Conference MAIN STRATEGIC PRIORITIES Attracting new issuers and investors; Popularization of the capital market abroad; Increasing the number, volume and variety of the traded instruments, that is - enhancing the liquidity of the market; Creation of an alternative mechanism/segment for financing small and medium companies; Launching a Derivative Market will be the next big step ahead

Thank you. The Prospects for Capital Markets in Southeast Europe Conference Thank you.