The Federation of Euro-Asian Capital Markets
Macedonian Stock Exchange
Ivan Shteriev
Chief Executive Officer
About Company
Established: September 1995
Address: Orce Nikolov 75, 1000 Skopje
Republic of North Macedonia
Working hours: 09:00 - 18:00
Contact person: Karolina Karovska Bozinoska
Email:
Website: www.mse.mk
- Rejoined FEAS in 2022 -
As we reflect on the previous year, we would like to highlight the meaningful progress and achievements of the Macedonian Stock Exchange. 2024 was a year marked by a significant growth in market turnover, simultaneously filled with many events and accomplishments.
In 2024, we broke a few records. The total stock exchange turnover reached around 218 million euros – the highest turnover in the last decade, with an impressive 190% increase compared to 2023. The MBI10 index ended the year at an all-time high of 10,200.91 index points, which marks a huge 66.78% rise compared to last year. Additionally, we facilitated 23,748 transactions, a 98% increase from the previous year. These results underscore the growing strength and intensified dynamics of our market.
Beyond these very good statistics, we took some important steps in further development of the capital market. The Macedonian Stock Exchange joined EBRD’s new regional cooperation initiative, alongside seven other stock exchanges from the CSEE region. As equal partners, we will identify and implement impactful projects that will advance the regional capital markets. This year, again with EBRD’s help, the mid-term development strategy for the MSE was successfully created. Our collaboration was also expanded with the start of a brand-new project that will provide guidance to companies for a successful IPO, and as the Central Securities Depositary’s largest individual shareholder, we strongly supported the procurement of a new software system which will push the entire capital market into a new era and will open new opportunities for everyone. After seven years, we also welcomed a new member to the MSE.
The main challenges we face currently are unfavorable age structure of our investor base and low level of participation of foreign investors. Data from the Central Securities Depository shows that over 80% of domestic shareholders are over 50 years old. Younger investors continue to focus on foreign markets, seeing them as fancier and more attractive. Hence, there is also no adequate inflow of young professionals in the industry in general. To address these issues, we have organized several educational events to attract younger investors and professionals, and we plan to host many more in 2025.
Year in review