1. 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

2. 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

3. 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”

4. 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
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
19.71%
31.20%
55.46%
34.45%
47 new issues admitted to trading for Q1 2008

5. TECHNOLOGY & INNOVATIONS
The Prospects for Capital Markets in Southeast Europe
Conference
TECHNOLOGY & INNOVATIONS
Start of the new trading platform – XETRA ( )
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)

6. 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

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