FEAS Yearbook FEAS Yearbook 2008 | Page 43

FEDERATION OF EURO-ASIAN STOCK EXCHANGES
SEMI ANNUAL REPORT OCTOBER 2008
MOLDOVAN 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 4.61
8.50
7.64
1.37
1.67
8.86
32.65 0.26
0.39
0.36
0.07
0.09
0.42
0.26 3.26
2.79
5.27
1.08
2.96
12.35
27.71 0.18
0.13
0.25
0.05
0.16
0.59
0.23
Bonds
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
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
0.00
0.00
Feb-08
0.00
0.00
Mar-08
0.00
0.00
Apr-08
0.00
0.00
May-08
0.00
0.00
Jun-08
0.00
0.00
* MSE recalculated its market cap. data is not available
PRACTICES & PROCEDURES
Trading
Days
Hours
Market segmentation
System
Mechanisms
Market-maker/Specialists
Instruments
Currency
Real time information Monday-Friday
10:00-15:00
First market, second market
Automated, depository link, data dissemination, WAN
Call auction, price fixing
No
Stocks
Local
min/max price, total volume
Clearing & Settlement
Central Depository
Period
Registered
Settlement
Clearing
DVP
Clearing Institution
Risk Sharing
Margin/Lending
Custodians Yes
T+3
Yes
Book entry
Netting
No
Yes, National Depository of Securities
No
Yes/Yes
Banks
Taxes
Cash Dividends
Interest Income
Capital Gains 15%
N/A
14% for local investors
Structure & Regulations
Legal
Regulation
Securities market
regulations
Trading rules
Surveillance
Corporate actions
Trading halts regulations
Investor protection Non-for-profit
Self
Exchange with regulation
institutions
Exchange
Yes, electronic
Centralized
Yes
Yes
Foreign Participation
Foreign investors
Investment limitations
Repatriation No restrictions
No limitations
No restrictions
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