The Macedonian, Bulgarian and Croatian Stock Exchanges will route trading orders through the SEE Link platform, which was officially launched Tuesday in Skopje at an event marking the 20th anniversary 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 EBRD grant of EUR 540,000 with the three stock exchanges having ownership stake of a total of EUR 80,000.
The Belgrade and Ljubljana Stock Exchanges have already confirmed their intention to join.
André Küüsvek, 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,” stated 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.
“I believe the platform will secure a better future for capital markets,” noted Ivana Gazic, CEO of Zagreb Stock Exchange.
Furthermore, two blue chip indices called SEE LinX and SEE LinX EWI will be introduced on April 1 enhancing the visibility of regional markets.