ALSE will open its doors in February: CEO Gjergji in Tirana Economic Forum
The Albanian Securities Exchange will start its operations within February.
The good news for the financial market in the country was provided by Artan Gjergji, Executive Director of the Albanian Securities Exchange.
“We hope that in February of this year we will be able to open the doors of the Albanian stock exchange. Shareholders, our financial supporters without whom we would never have been here, have been several financial institutions. We have been very careful to have “on board” only financial institutions. We all know and here was mentioned by the Mayor [Veliaj] that the key to the financial market is trust. We have to build trust, especially since we have a bitter history in our financial past, so we have been careful to have only financial institutions but that does not mean we have closed the doors. Absolutely; the door is open to any financial institution that is ready and meets the criteria to be part of the stock exchange structure of Albanian Securities Exchange and Securities.”
He said that initially then operations will start with government titles, then extending to business bonds and listing companies.
Gjergji said that the business interest in a stock market in Albania has been enormous.
Over 20 years, about 1 million stock transactions have been carried out with a total value of about 30 billion euro.
Gjergji explained that the platforms through which investments in the Exchange will be carried out is among the most modern ones, while those interested will find it quite easy to become part of this market.
“We have invested in one of the best electronic trading platforms and I have the honor to say that six stock exchanges in the region here have the same trading platform that has been tested before so we will not be behind them this aspect. We have received the license as we said by the Financial Supervisory Authority since July last year. There is a technical process that is being concluded, we are working very closely with the Bank of Albania and the Financial Supervisory Authority to make it operational. These are the technical details that I believe we all know we have in our daily job, so I believe very soon we will be able to open the doors for trading the titles. Initially, the license was given for treasury bills and bonds as a way to test and show the progress, but I believe very soon AMF has a positive view to enable us to list companies and other securities.”
In the panel on stock markets and capital markets of Tirana’s first economic forum, the experiences of Zagreb, Ljubljana, Belgrade or Montenegro stock exchanges were also brought.
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