FEDERATION OF EURO-ASIAN STOCK EXCHANGES
SEMI ANNUAL REPORT OCTOBER 2008
BELGRADE STOCK EXCHANGE
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Gordana Dostanic
Managing Director
In the first half of 2008, the Belgrade Stock
Exchange (BSE) recorded the turnover in
trading with shares and bonds of RSD 47.1
billion, i.e., over EUR 575.2 million. The
turnover structure remained almost unchanged
(share participation slightly increased by
6.13% as against the same period last year).
The total market capitalization of the BSE
Exhange on 30 June 2008 amounted to EUR
15.8 billion, which is by 14.4% lower compared
to the same period last year.
As at June 30th 2008, there were three
securities on the Prime Market of the BSE:
Energoprojekt holding a.d. Beograd (ENHL),
Sojaprotein a.d. Becej (SJPT) and Tigar a.d
Pirot (TIGR).
In spite of negative movements of the BSE
index, BELEX15 and BELEXline recorded the
lowest fall at the semi-annual level in
comparison with the leading indices of
regional stock exchanges. On the other hand,
FUTURE OUTLOOK
In the second half of 2008 the BSE is going to:
• Continue promotion of stock exchange
operations through road shows outside the
country, and further develop the existing
indexes and indicators;
• Develop new and improve the present
services provided for the Exchange members
and investors;
• Further the segmentation of the Stock
Exchange market, by developing new market
segments and improving the qualities of the
existing ones;
• Strive to motivate the best Serbian companies
and banks to apply for listing on the regulated
market, along with further affirmation of
in comparison with the benchmark index MSCI
EM EE, the BSE indices recorded a slightly
poorer performance, with a slightly smaller
negative change of -12.8%.
In mid-April 2008 the BSE launched the
redesigned information trading system based
on the FIX protocol BELEXFIX , completing the
first stage of the project, and started the
development stage which will involve the
redesign of the service and enable the
possibility of electronic ordering. The project is
realized according to the EU standards.
Positive effects of the project will be felt by all
participants in trading, first of all by clients,
who will be provided with functionalities
already used by clients on other world
markets, then by brokers, for whom the whole
trading procedure will be considerably
facilitated, and finally by supervisory bodies,
who will have better access to information.
However, the full efficacy of the new system
diversification of segments of the regulated
market, above all, Standard Market;
• Carry out preparations and realization of
classification of issuers whose shares are
traded on the Exchange by sectors, in line with
the leading global standards;
• Promote information on corporate events and
news related to the most liquid issuers, through
direct cooperation with media and news
agencies;
• Work on the development of the project with
listed companies, which should enable
autonomous updating of all documents
(prospectuses, reports on material events,
plans, and the like), news, notices,
announcements and the like, which the Stock
Exchange receives from issuers to be posted
on its internet pages;
depends on the activities of the institutions of
the Serbian capital market.
Along with the activities concerning the
implementation of the FIX protocol, the
existing information services and the internet
presentation have also been improved, with
the aim of providing better access to different
kind of relevant information, which will
consequently attract more domestic and
foreign investors and enhance their interest in
the Serbian capital market.
Promotion of the Serbian capital market,
during the observed period, was carried out
through intensive and interactive
communication with investment companies,
funds and other professional investors from
abroad, data vendors, leading media agencies
and the first roadshows of domestic issuers.
• Carry out modification of BELEXFIX
application and testing of brokers’ solutions for
the client application;
• Intensify international cooperation through
partner relations with other regional market
operators;
• Develop BELEX.info Professional, commercial
and service application for monitoring trading in
real time, based on the FIX protocol
•
Carry out activities on the preparation
of the Seventh International Conference
Belgrade SuperMarket: One Stop – Learn All,
which will be held on 13 and 14 November
2008 in Belgrade.
CONTACT INFORMATION
Contact Name Ms. Svetlana Cerovic
E-mail [email protected]
Website www.belex.co.yu
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