Bulgaria's bourse launches trading in state securities
01/11/2017 09:34
SOFIA, Nov 1 (Reuters) - The Bulgarian Stock Exchange
BSO.BB launched trading in state treasury bonds on Wednesday
in a move aimed at boosting transparency and attracting
investors to the low-liquid bourse.
Some 20 issues of Bulgarian treasury bonds with a total
nominal value of 5.5 billion levs ($3.27 billion) are now
offered for trading, said Vassil Golemanski, chief executive of
the exchange.
The issues cover all of Bulgaria's locally sold bonds except
a few issues that will mature within six months.
The finance ministry has said it plans to sell up to 1
billion levs in new bonds on the local market next year.
"We have worked hard to have the government securities on a
regulated market for secondary trade," Deputy Finance Minister
Marinela Petrova said, adding the move was aimed at increasing
"transparency, accessibility and fairness in determining the
price of the securities."
To help support the new market, the stock exchange, the
central depositary and 13 investment intermediaries have agreed
not to charge investors trading fees on state bonds for one
year.
Traders welcomed the launch.
"This is very good news that will boost transparency. We
expect increased interest to the Bulgarian capital market," said
Dimitar Georgiev, head of trading at Sofia-based brokerage Elana
Trading.
($1 = 1.6802 leva)
(Reporting by Tsvetelia Tsolova; editing by Jason Neely)
((tsvetelia.tsolova@thomsonreuters.com; +359-2-93-99-731;))
Keywords: BULGARIA BOURSE/TREASURIES