Ljubljanska borza, d. d., Ljubljana
Ljubljana Stock Exchange connected to SEE Link
SEE Link expands to a total of 5 active markets
After applying to join SEE Link earlier this year, Ljubljana Stock Exchange (LJSE) became an active member of the SEE Link network enabling trading on the respective market.
This is the second stock exchange that has actively joined SEE Link after three founding stock exchanges and Belgrade Stock Exchange, that has joined SEE Link a few days ago.
Aleš Ipavec, LJSE President of the Management Board, said: The Ljubljana Stock Exchange and Belgrade Stock Exchange are the last stock exchanges from the SEE region to join the SEE Link and this is an important step towards a closer regional cooperation. Small stock exchanges from the SEE region cannot be really successful on their own and building strong links among the exchanges in such a way will lead to the creation of a strong and successful regional market.
SEE Link is a project started by the Bulgarian, Croatian and Macedonian stock exchanges with the aim of creating regional infrastructure for the trading of securities listed on those three markets. Formalising this cooperation, the three stock exchanges set up SEE Link as a joint company in May 2014, located in Skopje. The EBRD supported the initial phase of the SEE Link project with a €540,000 grant to introduce an electronic system for order-routing in July 2014. Funding for the project was provided by EBRD donors through the EBRD Shareholder Special Fund. In parallel, participating stock exchanges extended €80,000 to SEE Link.
SEE Link order routing system has become fully operational at the end of the March this year. The two SEE Link indices ‒ SEE LinX and SEE LinX EWI ‒ were launched in the beginning of April, composed of the 10 most actively traded regional companies listed on three participating exchanges. With new markets accession, the indices revision is planned in the forthcoming period in order to provide more representative overview of the market.
Besides LJSE and BELEX, three more stock exchanges are preparing for connecting to SEE Link: Athens, Banja Luka and Montenegro stock exchanges, with several other regional stock exchanges expressing their interest to join.
With LJSE accession, SEE Link order-routing system now supports trading for a total of five markets, with a combined equity market capitalisation of more than US$ 38,5 billion and more than 500 stocks eligible for trading. A total of 27 investment companies (brokerage houses) are licensed to trade via SEE Link. In addition, seven members of the Belgrade Stock Exchange are currently in the process of obtaining licenses for trading via SEE Link.
The system aims to increase liquidity and improve access for investors and local brokers.
Ljubljana Stock Exchange