Sarajevo Stock Exchange (SASE) during 2013 is planning to carry out in 2013 significant activities which will be directed towards developing domestic capital market.
Manager of Sarajevo Stock Exchange Tarik Kurbegović said in an interview to FENA that the plans can be divided into three groups: first, the measures aimed at strengthening the supply of securities, and then activities aimed at increasing transparency in the capital markets, and activities in the field of education.
“Regarding the measures to strengthen the foreign supply of securities, we plan to take action to restore and revive money markets, namely the market of short-term securities. Short-term securities are considered to be securities with maturities under one year and because their of high liquidity they are very close to the final money, but, nevertheless, we should bear in mind that this is not about the money market in the colloquial sense of the word. Besides, SASE has participated in the working group of FBiH Ministry of Finance with the aim of solving the problem of (lack of) liquidity in the domestic economy. For this purpose there are two possible courses of action – setting up the system for multilateral compensation on one side and the establishment oft so-called trade exchanges on the other side, “said Kurbegović.
Stock market will seek to initiate a discussion about the emission of so called debt securities, because, says Kurbegović, this instrument, which is popular in some countries of the EU, which came under discussion in neighbouring Croatia, can significantly contribute to the economic development of FBiH, and the development of domestic capital markets.
“The other group of activities of SASE in 2013 relates to increasing the level of transparency of companies, where in relation to the developed markets, we’ve made certain deficits. Our goal is to offer an efficient and inexpensive platform for legally mandated reporting of periodic financial reports, so-called Ad-hoc information (price sensitive information). Third segment of activity refers to an organized approach to education of participants in the market. Here, in a first step, we try to reach out to universities to work together with them to educate future staff and contributed to the financial literacy of future generations „said Kurbegović, among other things.
Kurbegović notes that the special emphasis in 2013 will be put on starting the joint trade platform of Sarajevo, Banjaluka and Montenegro Stock Exchange, which will allow investors simpler and cheaper access to partner markets.
Sarejevo Stock Exchange (SASE) was formed on 13 September 2001 by eight brokerage houses and the first auction was held on 12 April 2002.
