ALSE informs brokerage firms in a meeting aimed at boosting Albania’s capital market

The brokerage firms licensed by the Financial Supervisory Authority are increasingly showing interest in the development of Albania’s domestic capital market.

Chief Executive Officer of the Albanian Securities Exchange ALSE Artan Gjergji held a working meeting with brokerage firms which discussed the possibilities of cooperation in brokerage in the securities industry and the terms of membership of these firms at the Albanian Securities Exchange ALSE.

Representatives of Aksioner International Securities Brokerage, Eurotrade Securities, Prodata Securities and Smartcom Financial Broker were informed about the work done so far by ALSE for making the institution operational, as well as in harmonizing the electronic systems with the Bank of Albania and the payment system in the country.

Brokerage firms were also informed about the ALSE regulatory framework, the regulations and the membership criteria of these financial intermediaries on the Securities Exchange, how to start their own accounts and of their clients who are expected to trade on the Securities Exchange.

In addition, the representatives of the companies were informed about the commissions and fees as well as the benefits of membership by the end of this year as well as the expectations for the medium and long term market development, starting with the trading of government securities up to the listing of corporate securities (corporate bonds or shares).

Brokerage firms were also informed on the listing criteria of the businesses on the securities exchange.

The brokerage firms, on the other hand, made a presentation of their current work in mediating with their Albanian clients in securities, listed and quoted on stock exchanges abroad, and showed interest in the development of the domestic capital market.

They also showed their willingness to link a part of their activity with the domestic securities market.

The Albanian Securities Exchange will continue its informative and cooperative meetings with second-tier banks operating in the country, which are licensed by AFSA to trade in government debt securities (bonds and treasury bonds).

The Albanian Securities Exchange (ALSE) is the first publicly-licensed private equity exchange.

The Securities Exchange was licensed in July this year by the Financial Supervisory Authority and is expected to officially open its activities during autumn.

Initially, ALSE will trade government securities, and in the second phase, other securities will be traded as well, such as shares, corporate bonds, etc.

The emergence of the securities exchange was enthusiastically received by both businesses and state institutions, as it is expected to have a positive impact on long-term investments and the economic development of the country.

SCAN

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