FEAS Yearbook FEAS Yearbook 2008 | Page 41

FEDERATION OF EURO-ASIAN STOCK EXCHANGES
SEMI ANNUAL REPORT OCTOBER 2008
MACEDONIAN 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 15.1068
21.1248
24.6827
17.5155
10.3383
13.3541
102.12 0.7194
1.0059
1.2341
0.8758
0.4923
0.6677
0.83 0.2468
0.3642
0.4529
0.4016
0.3398
0.4531
0.38 0.0118
0.0173
0.0226
0.0201
0.0162
0.0227
0.02
Bonds
Jan-08
Feb-08
Mar-08
Apr-08
May-08
Jun-08
TOTAL 2.9601
1.0036
1.5476
1.9041
1.5174
1.9481
10.88 0.141
0.0478
0.0774
0.0952
0.0723
0.0974
0.09 0.8624
0.7315
1.1329
1.3955
1.1015
1.4604
6.68 0.0411
0.0348
0.0566
0.0698
0.0525
0.073
0.05
Other
Jan-08
Feb-08
Mar-08
Apr-08
May-08
Jun-08
TOTAL 0.0
0.0
0.0
0.0
0.0
0.0
0.0 0.0
0.0
0.0
0.0
0.0
0.0
0.0 0.0
0.0
0.0
0.0
0.0
0.0
0.0 0.0
0.0
0.0
0.0
0.0
0.0
0.0
Market Capitalization (US$ millions)
Index
Jan-08
2,560.36
7,106.99
Feb-08
2,583.63
7,056.08
Mar-08
2,574.38
6,707.40
Apr-08
2,183.77
5,815.12
May-08
2,157.42
5,751.32
Jun-08
1,876.59
4,885.99
PRACTICES & PROCEDURES
Trading
Days
Hours
Market segmentation
System
Mechanisms
Market-maker/Specialists
Instruments
Currency
Real time information Monday -Friday
09:00-12:00
Official and unofficial market
Remote access, data dissemination, WAN
Call auction, continuous auction
No
Stocks, bonds, government certificates
Local
Brokerage houses, banks
Clearing & Settlement
Central Depository
Period
Registered
Settlement
Clearing
DVP
Clearing Institution
Risk Sharing
Margin/Lending
Custodians Yes
T+3
Yes
Book entry
Transaction by transaction
Yes, full DVP
Yes
No
No
Banks
Taxes
Cash Dividends
Interest Income
Capital Gains 15%
N/A
No
Structure & Regulations
Legal
Regulation
Securities market
regulations
Trading rules
Surveillance
Corporate actions
Trading halts regulations
Investor protection For profit-joint stock company
Self
Regulatory institutions, SEC and
Exchange
Exchange, government institution
Yes
Centralized
Yes
Yes
Foreign Participation
Foreign investors
Investment limitations Yes
No limitations
PAGE 41