FEAS Yearbook FEAS Yearbook 2008 | Page 19

FEDERATION OF EURO-ASIAN STOCK EXCHANGES
SEMI ANNUAL REPORT OCTOBER 2008
BELGRADE STOCK EXCHANGE
OFFICIAL 6 MONTH STATISTICS
US$ millions
Total Volume
Average Daily Volume
# Shares millions
Total Volume
Average Daily Volume
Stocks
Jan-08
Feb-08
Mar-08
Apr-08
May-08
Jun-08
TOTAL 127.43
93.17
79.05
228.81
185.40
123.79
837.64 6.37
4.66
3.76
11.44
9.27
5.89
6.90 2.00
1.36
1.49
2.44
2.63
1.93
11.84 0.10
0.07
0.07
0.12
0.13
0.09
0.10
Bonds
Jan-08
Feb-08
Mar-08
Apr-08
May-08
Jun-08
TOTAL 5.05
4.92
5.30
4.89
7.54
19.27
46.96 0.25
0.25
0.25
0.24
0.38
0.92
0.38 4.58
0.00
4.45
4.04
6.62
16.63
36.33 0.23
0.00
0.21
0.20
0.33
0.79
0.29
Other
Jan-08
Feb-08
Mar-08
Apr-08
May-08
Jun-08
TOTAL 0.00
0.00
0.00
0.00
0.00
0.00
0.00 0.00
0.00
0.00
0.00
0.00
0.00
0.00 0.00
0.00
0.00
0.00
0.00
0.00
0.00 0.00
0.00
0.00
0.00
0.00
0.00
0.00
Market Capitalization (US$ millions)
Index
Jan-08
22,372.38
2,160.59
Feb-08
24,309.56
2,089.11
Mar-08
21,690.53
1,718.79
Apr-08
20,962.59
1,604.99
May-08
20,861.57
1,784.21
Jun-08
22,359.97
1,783.28
PRACTICES & PROCEDURES
Trading
Days
Hours
Monday-Friday
Equities: Continuous Trading 9:30am - 1:00pm
Single Price Auction Method: 10:00am - 12:00pm
Bonds: Continous Trading 9:30am - 1:00pm
Market segmentation
Regulated market (Listing A; Listing B), Unregulated
market
System
Electronic Platform BELEX, automated, remote
access
Mechanisms
Continuous Trading Method, Single Price Auction
Method
Market-maker/Specialists Yes
Instruments
shares, bonds
Currency
Equities - local currency
Government Bonds - Euro
Real time information
Exchange members, Data vendors, BELEX info
service
Clearing & Settlement
Central Depository
Period
Registered
Settlement
Clearing
DVP
Clearing Institution
Risk Sharing
Margin/Lending
Custodians
Yes, Central Securities Depositary and Clearing
House
T+3
N/A
Book Entry
Transaction by transaction
Yes
Yes
Yes
No
Yes
Taxes
Cash Dividends
Interest Income
Capital Gains
Structure & Regulations
Legal
Regulation
Securities market
regulations
Trading rules
Surveillance
Corporate actions
Trading halts regulations
Investor protection
Foreign Participation
Foreign investors
Investment limitations
Repatriation
20% (10%)
20%
20% on capital gains
0.3% - property transfer tax
Joint Stock Company
Securities and Exchange
Commission
Exchange with SEC
Exchange (SEC approval)
Exchange - online and offline
CSD
Yes, ban on trading
Yes
No restrictions
No limitations
No restrictions
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