ALREG is licensed – AFSA “opens ALSE’s path” for private companies
Albanian Financial Supervisory Authority licensed on Thursday the company “Albanian Securities Registry- ALREG”. ALREG’s licensing was a necessary step to enable the trade of business securities in ALSE.
Trading at ALSE it is impossible without a registry where securities ownership data are held (central depository) and transactions are executed with them. However, ALREG will also need a second license, before starting the activity.
The license granted on Thursday from AFSA gives the rights to register securities, meanwhile that ALREG must also apply into Bank of Albanian to be licensed as settlement system for payments executed at ALSE.
After having the additional license from Bank of Albanian, ALREG will perform the whole process of clearing and settlement of transactions from business securities, by providing to Albanian Securities Exchange ALSE the path to trade shares and corporate bonds.
According to ALSE’s top level management, the exchange will be ready for private companies within the first 6 months of the current year. However, ALREG’s activity will not only be in the function of ALSE, but will also as a registrar for securities that will be traded in private, including shares of joint stock-companies or debentures.